Morning Brew Daily SoftBank Dumps Nvidia for OpenAI & Reward Cards No Longer Accepted?
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Nov 12, 2025 In a bold investment shift, SoftBank sells its $5.8 billion Nvidia stake to focus on OpenAI, raising eyebrows in the tech industry. Meanwhile, Visa and Mastercard's settlement allows merchants to reject costly reward cards, potentially changing the payment landscape. With U.S. air travel facing chaos, buses and trains are experiencing a surge in popularity as reliable alternatives. Lastly, Netflix dives into physical entertainment with the launch of Netflix House in Philadelphia, challenging traditional amusement parks.
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SoftBank's Big Reallocation Bet
- SoftBank sold its entire $5.8B NVIDIA stake to fund a $30B commitment to OpenAI and cash in gains.
- The move signals a strategic shift from broad chip bets to concentrated private AI investment under Masayoshi Son.
Two AI Strategies, Two Futures
- OpenAI and Anthropic pursue very different capital strategies with major implications.
- OpenAI plans massive losses while Anthropic targets breakeven, highlighting divergent risk profiles.
Selling Sparks Doubt On AI Valuations
- SoftBank's sale rattled markets and raised 'is this the top?' questions for AI valuations.
- Michael Burry's critique about chip depreciation added to investor unease about inflated AI profits.