SoftBank Is Putting All Its Eggs in the OpenAI Basket [Yahoo! Finance]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: Yahoo! Finance
Softbank is borrowing money to go all-in on AI. The Japanese investor is seeking the largest-ever loan denominated purely in U.S. dollars, about $40 billion, to help fund a massive expansion of its investment in OpenAI. WHAT HAPPENED SoftBank Group founder Masayoshi Son is once again swinging for the fences by negotiating a 12-month bridge loan of up to $40 billion to fund OpenAI, according to a Bloomberg report. The deal itself sounds like a little too much exposure to OpenAI. SoftBank already holds about 11% of OpenAI as of December, after injecting more than $30 billion into the company previously. It now wants to take a loan to primarily finance a $30 billion additional investment in OpenAI. As per reports, there are four primary underwriters including JPMorgan Chase. For Son, this is Softbank's AI moonshot. He is trying to repeat the success story of Alibaba and ByteDance, but the price tag of AI is way steeper and the risk is exponentially higher. And this comes at a se
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