SoftBank’s Aggressive Push to Secure $22.5 Billion for OpenAI Deal Reshapes Operations

SoftBank Group is racing against time to secure the remaining $22.5 billion it owes OpenAI by year-end, with founder Masayoshi Son treating the investment as a critical move in the global AI race. The Japanese conglomerate has already liquidated significant assets, including its entire $5.8 billion Nvidia stake and a $4.8 billion reduction in T-Mobile US holdings, while sharply curtailing other dealmaking activities.

Internally, the focus has shifted almost entirely to OpenAI-related work, with Vision Fund managers sidelining other investments. Any deal above $50 million now requires Son's direct approval, bringing most new transactions to a NEAR standstill. The company is exploring multiple avenues to raise capital, including asset sales, margin loans tied to Arm Holdings, and delayed listings like the $20 billion PayPay IPO now slated for early 2024.

SoftBank's frenetic fundraising underscores the strategic importance of the OpenAI partnership in what Son appears to view as an existential battle for AI supremacy. The company's willingness to dismantle Core holdings and freeze operations demonstrates an unprecedented allocation of resources toward this single objective.