T-Mobile sinks after SoftBank dumps $4.9 billion of its stock in the telecom giant
T-Mobile shares fell over 4% Tuesday after SoftBank sold off a big chunk of its stake in the telecom company.
The Japanese tech conglomerate offloaded 21.5 million shares at $224 each, at the low end of the expected $224 to $228 range, raising about $4.9 billion. For perspective on how big the sale is, it represents about 1.9% of T-Mobile’s public stock. Still, SoftBank owned 85.4 million shares, or 7.5% of T-Mobile, as of March 31.
It’s the largest US block trade since TD Bank sold a $13 billion stake in Schwab back in February.
SoftBank says the sale will help fund its growing wave of AI investments. Founder Masayoshi Son has been all in on artificial intelligence. He’s reportedly overseeing an up to $30 billion investment into OpenAI and partnering with the ChatGPT maker on a global data center buildout known as Stargate. The plan, which could funnel hundreds of billions into AI infrastructure, had hit a speed bump as debt financing got tricky amid tariff uncertainty.
T-Mobile shares are still up 24% over the past 12 months.
It’s the largest US block trade since TD Bank sold a $13 billion stake in Schwab back in February.
SoftBank says the sale will help fund its growing wave of AI investments. Founder Masayoshi Son has been all in on artificial intelligence. He’s reportedly overseeing an up to $30 billion investment into OpenAI and partnering with the ChatGPT maker on a global data center buildout known as Stargate. The plan, which could funnel hundreds of billions into AI infrastructure, had hit a speed bump as debt financing got tricky amid tariff uncertainty.
T-Mobile shares are still up 24% over the past 12 months.
