Overview
- SoftBank has sold its entire $5.8 billion Nvidia stake and $4.8 billion in T-Mobile shares, lifting disposals to roughly $10.6 billion.
- Sources report Vision Fund dealmaking has slowed to a crawl, with Son requiring personal sign-off for any transaction above $50 million and staff cuts underway.
- The company is weighing margin loans backed by its Arm Holdings stake, with about $11.5 billion in undrawn capacity reported.
- Further liquidity could come from reducing its Didi Global position and a PayPay IPO now expected in Q1 2026 that is projected to raise over $20 billion.
- Part of the planned funding is expected to support OpenAI’s Stargate venture with Oracle, signaling a concentrated push into AI infrastructure.