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Stock impact report

Exclusive-SoftBank races to fulfill $22.5 billion funding commitment to OpenAI by year-end, sources say [Yahoo! Finance]

SOFTBANK GRP UNSP/ADR (SFTBY) 
NASDAQ:AMEX Investor Relations: softbank.jp/en/corp/irinfo/presentations
Company Research Source: Yahoo! Finance
funding commitment to OpenAI by year-end through an array of cash-raising schemes, including a sale of some investments, and could tap its undrawn margin loans borrowed against its valuable ownership in chip firm Arm Holdings, sources said. The "all-in" bet ?on OpenAI is among the biggest yet by SoftBank CEO Masayoshi Son, as the Japanese billionaire seeks to improve his firm's position in the race for artificial intelligence . To come up with ?the money, Son has already sold SoftBank's entire $5.8 billion stake in AI chip leader Nvidia , offloaded $4.8 billion of its T-Mobile US stake, and slashed staff. Son has slowed most other dealmaking at SoftBank's Vision Fund to a crawl, and any deal above $50 million now requires his ?explicit approval, two of the sources told Reuters. Son's firm is working to take public its payments app operator, PayPay. The initial public offering, originally expected this month, was pushed back due to the 43-day-long U.S. government shutdown, which Show less Read more
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