SoftBank cuts OpenAI margin loan target to $6 billion
Updated
Updated · Bloomberg · May 8
SoftBank cuts OpenAI margin loan target to $6 billion
12 articles · Updated · Bloomberg · May 8
The Japanese conglomerate had sought about $10 billion, but bankers and SoftBank recently discussed raising as little as $6 billion with potential lenders.
People familiar with the matter said some creditors were hesitant to back the larger margin loan, which would be secured by SoftBank's OpenAI stake.
Talks are continuing, and the final borrowing size could still change as SoftBank gauges lender appetite for the financing.
Is SoftBank’s loan trouble a red flag for OpenAI’s massive private valuation?
With its Stargate project stalled, is SoftBank's ambitious AI partnership with OpenAI already failing?