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SoftBank Gets Upsized $11.9 Billion Loan in OpenAI Funding Push
SoftBank has secured an upsized $11.9 billion loan to continue its aggressive funding push into OpenAI despite potential volatility.
What: SoftBank borrowed $11.9 billion from 20 banks to fuel its investment in OpenAI, surpassing its initial $10 billion goal. This follows recent pressure on SoftBank shares, which fell 13% after the debt acquisition was reported.
Why it matters: Massive capital injections from firms like SoftBank allow OpenAI to delay IPO pressures while aggressively pursuing compute-heavy development.
Original article
SoftBank just borrowed nearly $12 billion from about 20 banks to keep funding OpenAI, beating the $10 billion it first sought. Son is still aiming near $65 billion into OpenAI by October even as Altman shelves a 2026 IPO over safety and SoftBank shares sank as much as 13% Monday on the debt pile.
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