SoftBank Seeks $40B Loan to Double Down on OpenAI Bet
SoftBank Group Corp. is negotiating a $40 billion loan to amplify its wager on OpenAI, marking its largest dollar-denominated borrowing ever. The 12-month facility involves JPMorgan Chase & Co. and three other underwriters, reflecting Masayoshi Son’s aggressive pivot toward AI dominance. This follows $30 billion already committed, eclipsing earlier wins in Alibaba Group Holding Ltd. and ByteDance Ltd.
The Japanese conglomerate has reshaped its portfolio around OpenAI, now its second-largest holding after Arm Ltd. December disclosures showed an 11% stake, fueled by asset sales including Nvidia Corp. shares. As rival products like Google’s Gemini gain traction, SoftBank’s fortunes grow increasingly tied to ChatGPT’s market performance—a risk underscored by S&P Global Ratings’ recent credit outlook downgrade.