SoftBank Revives $10bn OpenAI-Backed Loan Negotiations
SoftBank Group Corp. (TYO:9984) saw its shares climb 2.3% to ¥6,137, outperforming the broader Japanese market as the Nikkei 225 rose about 0.5% on the day. Reuters reported that SoftBank has re‑engaged a consortium of lenders to discuss a $10 billion margin loan secured primarily by its stake in OpenAI, the private developer of ChatGPT.
The renewed talks follow earlier negotiations that stalled because banks were reluctant to accept privately held OpenAI shares as the sole collateral. To mitigate this concern, SoftBank is now proposing a corporate guarantee that would allow lenders to seek repayment directly from the company if the pledged OpenAI stake proves insufficient. The expected participants in the lending syndicate are Goldman Sachs, JPMorgan Chase, and Mizuho Financial Group.
The loan is part of founder Masayoshi Son’s broader strategy to deepen SoftBank’s exposure to artificial intelligence. Reuters noted that SoftBank has already committed more than $60 billion to OpenAI and related AI infrastructure initiatives, including the Stargate data‑center venture, and is increasingly relying on debt and asset‑backed financing to fund these projects.
Lenders remain cautious about using stakes in privately held companies as collateral because such assets are harder to value and liquidate than publicly traded shares. SoftBank previously trimmed its financing target after encountering resistance from potential lenders. However, an eventual public listing of OpenAI— which confidentially filed for a U.S. initial public offering last month— could simplify valuation and enhance the usefulness of the stake as collateral.
Reporting by Roushni Nair.