Transcript: SoftBank divesting from Nvidia could be good, actually

This is an audio transcript of the FT News Briefing podcast episode: ‘SoftBank divesting from Nvidia could be good, actually’

Sonja Hutson
Good morning from the Financial Times. Today is Wednesday, November 12th, and this is your FT News Briefing. Looks like oil and gas demand could stick around for a bit longer, and SoftBank pulled out of Nvidia but that might not be bad news. Plus, a small tax cut in Italy has created a huge backlash. I’m Sonja Hutson, and here’s the news you need to start your day.

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Global demand for oil and gas will rise for the next quarter century. That’s if worldwide habits don’t change, according to the International Energy Agency. The Paris-based body published its latest forecast today. It reflects less interest from global governments to stick to climate targets. Now, this is a change from previous reports. The IEA’s forecast had assumed fossil fuel consumption would peak this decade. That was disputed by the oil and gas industry and the White House, though. The IEA says this year, there is a wide range of uncertainty around the outlook. For some, it’s, quote, very optimistic. For some people it’s very pessimistic.

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SoftBank decided to sell its nearly $6bn stake in the chipmaker Nvidia. The Japanese conglomerate announced the sale yesterday and that sent Nvidia shares down almost 3 per cent. But the divestment might not be all bad for Nvidia. That’s what the FT’s John Foley thinks. He’s the head…