SoftBank seeks $40 billion loan to invest in OpenAI

According to Odaily Odaily, sources familiar with the matter say SoftBank Group is seeking a loan of up to $40 billion, primarily to finance its investment in OpenAI. This would be its largest ever loan denominated solely in US dollars. Some sources revealed that the bridging loan has a term of approximately 12 months and is underwritten by four banks, including JPMorgan Chase. Negotiations with the banks are ongoing, and specific details are subject to change. The potential size of the loan underscores SoftBank founder Masayoshi Son's aggressive strategy to position the company as a key player in the global AI boom. As of the end of December last year, SoftBank held approximately 11% of OpenAI's shares. To support its continued bet on OpenAI, SoftBank has sold assets including its stake in Nvidia. (Jinshi)