SoftBank Group Seeks $40 Billion Record Loan for OpenAI Stake Acquisition

BlockBeats News, March 6th: Sources said SoftBank Group is seeking a loan of up to $40 billion, mainly to finance its investment in OpenAI, which would be its largest-ever loan denominated solely in US dollars.

Some sources revealed that the term of this bridge loan is around 12 months and is underwritten by four banks including JPMorgan. Negotiations with the banks are still ongoing, and specific details may change. The potential size of the loan highlights SoftBank founder Masayoshi Son's aggressive strategy to position the company as a key player in the global AI frenzy.

As of the end of December last year, SoftBank held about 11% of OpenAI and has sold assets, including NVIDIA shares, to support its ongoing bet on OpenAI. (Golden Finance)