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.

Key Takeaways T-Mobile shares declined after Japanese investment firm SoftBank reportedly sold shares of the company's stock.SoftBank raised $4.8 billion in the deal but sold the shares at a discount to T-Mobile's closing price Monday,

Japan's SoftBank Group Corp is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile shares, Bloomberg News reported on Monday.