{"id":119654,"date":"2021-08-10T14:37:49","date_gmt":"2021-08-10T14:37:49","guid":{"rendered":"https:\/\/fin2me.com\/?p=119654"},"modified":"2021-08-10T14:37:49","modified_gmt":"2021-08-10T14:37:49","slug":"nvidia-to-buy-chipmaker-from-softbank","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/","title":{"rendered":"Nvidia to buy chipmaker from SoftBank"},"content":{"rendered":"<p><cite>Hong Kong (CNN Business)<\/cite>SoftBank CEO Masayoshi Son is cutting back on new investments in China as the country&#8217;s private sector continues to face a historic regulatory crackdown.<\/p>\n<p>The Japanese billionaire said at an earnings presentation Tuesday that he would take a cautious approach until the impact of new regulations are clear.<br \/>\nChinese companies accounted for 23% of SoftBank&#8217;s massive Vision Fund investment portfolio at the end of July. But only 11% of Vision Fund investment has been directed to the country since April, Son said.<\/p>\n<ul><\/ul>\n<p>&#8220;It&#8217;s because we would like to wait and see a while,&#8221; he added. <\/p>\n<ul><\/ul>\n<p>Taking questions from reporters,<strong> <\/strong>Son acknowledged that the company was &#8220;facing tough challenges when it comes to investments in China.&#8221;<\/p>\n<p>&#8220;That&#8217;s true,&#8221; he said. &#8220;That&#8217;s something we&#8217;d like to be careful about, and be cautious. Once we have a better view, then we&#8217;d like to resume [further] investments.&#8221;<br \/>\n<img decoding=\"async\" alt=\"China&amp;#39;s biggest private companies are in chaos. It&amp;#39;s all part of Beijing&amp;#39;s plan\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210803021921-xi-jinping-ccp-anniv-screen-0701-large-169.jpg\"><br \/>\nIn recent months, China has embarked on a major clampdown on private enterprise, which has engulfed some of the country&#8217;s top players. Initially, it appeared that regulators&#8217; main target was the booming tech sector, but lately that has expanded to reach other industries, such as private education.<br \/>\nInvestors have been rattled. So far, the events have wiped out more than $1.2 trillion in market value and stoked fears about the future of innovation in the world&#8217;s second largest economy. Son said he was concerned about the the impact regulations would have on stock markets.<br \/>\n<span>SoftBank<\/span> <span>(<span>SFTBF<\/span>)<\/span>, one of the world&#8217;s largest tech investors, holds stakes in several top Chinese firms, including e-commerce titan <span>Alibaba<\/span> <span>(<span>BABA<\/span>)<\/span>, ride-hailing giant Didi and TikTok owner ByteDance.<br \/>\nDidi has especially felt the pain lately, with an initial public offering in the United States that went downhill after Beijing launched a probe into the company and banned it from Chinese app stores.<br \/>\n<img decoding=\"async\" alt=\"China is cracking down on data privacy. That&amp;#39;s terrible news for some of its biggest tech companies\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210706223743-didi-beijing-hq-0703-restricted-large-169.jpg\"><br \/>\nSon did not comment on Didi specifically during the presentation, but said that he still had &#8220;good expectations&#8221; from SoftBank&#8217;s portfolio companies in China.<br \/>\nHe reiterated that the firm wanted to &#8220;wait and see how things go&#8221; as regulations continued to roll out, adding that there was no specific timeline on how long it planned to take that approach.<br \/>\n&#8220;Is it six months, 12 months? I don&#8217;t know yet,&#8221; the executive said.<br \/>\n&#8220;[But] in one year or two years, under the new rules, and under new orders, I think things will be much clearer &#8230; Once things get clearer, then we are open to resuming active investment.&#8221;<br \/>\nSon&#8217;s remarks came as SoftBank posted a nearly 40% drop in profits Tuesday. Net income fell to 761.5 billion yen ($6.9 billion) in the quarter ended June compared to the same period a year ago.<br \/>\nThe company largely attributed that to a major one-off gain it received last year based on the merger of <span>Sprint<\/span> <span>(<span>S<\/span>)<\/span> \u2014 which Son had bought in 2013 \u2014 and <span>T-Mobile<\/span> <span>(<span>TMUS<\/span>)<\/span>.<br \/>\nDespite the crackdown, Son said he remains bullish on China in the long run.<\/p>\n<ul><\/ul>\n<p>&#8220;There are still risks out there, like the risks in China. But we want to take risks,&#8221; he said. &#8220;We are not against or for the Chinese government, and we don&#8217;t have any doubt about [the] future potential of China.&#8221;<br \/>\n<em>\u2014 Laura He contributed to this report.<\/em><br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/08\/10\/investing\/softbank-vision-fund-china-tech-intl-hnk\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong (CNN Business)SoftBank CEO Masayoshi Son is cutting back on new investments in China as the country&#8217;s private sector continues to face a historic [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":119653,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia to buy chipmaker from SoftBank - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nvidia to buy chipmaker from SoftBank - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Hong Kong (CNN Business)SoftBank CEO Masayoshi Son is cutting back on new investments in China as the country&#8217;s private sector continues to face a historic [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-10T14:37:49+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Nvidia-to-buy-chipmaker-from-SoftBank.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/\",\"url\":\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/\",\"name\":\"Nvidia to buy chipmaker from SoftBank - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-08-10T14:37:49+00:00\",\"dateModified\":\"2021-08-10T14:37:49+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Nvidia to buy chipmaker from SoftBank\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nvidia to buy chipmaker from SoftBank - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/","og_locale":"en_US","og_type":"article","og_title":"Nvidia to buy chipmaker from SoftBank - Fin2me","og_description":"Hong Kong (CNN Business)SoftBank CEO Masayoshi Son is cutting back on new investments in China as the country&#8217;s private sector continues to face a historic [...]","og_url":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/","og_site_name":"Fin2me","article_published_time":"2021-08-10T14:37:49+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Nvidia-to-buy-chipmaker-from-SoftBank.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/","url":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/","name":"Nvidia to buy chipmaker from SoftBank - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-08-10T14:37:49+00:00","dateModified":"2021-08-10T14:37:49+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/nvidia-to-buy-chipmaker-from-softbank\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Nvidia to buy chipmaker from SoftBank"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119654"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=119654"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/119653"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=119654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=119654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=119654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}