SoftBank Sells T-Mobile Stake for $4.8 Billion to Bet on AI

SoftBank Group Corp. raised around $4.8 billion through a sale of T-Mobile US Inc. shares, a move that helps fund the Japanese company’s grandiose plans for artificial intelligence.

The Tokyo-based technology group sold 21.5 million T-Mobile shares for $224 each — pricing at the bottom of the $224 to $228 range — in an unregistered overnight block sale, according to the final terms of the deal seen by Bloomberg News. The offering, which Bloomberg reported earlier, represents a discount of 3% to T-Mobile US’s Monday closing price of $230.99 per share.