Masa Son doubles down on AI bets
The SoftBank CEO is using borrowed money and financial sleight-of-hand to double down on the AI boom.
Masa Son, the SoftBank CEO, is once again leveraging his financial prowess to bolster his investments in the burgeoning AI sector. In a recent earnings report, SoftBank disclosed that it had taken out a $10 billion loan from a consortium of global lenders, with its stake in OpenAI acting as collateral. This move echoes Son's previous strategy of using borrowed funds to acquire stakes in profitable businesses, such as Alibaba and Yahoo.
The loan, disclosed in July, was used to fund the firm's latest investment in OpenAI, reflecting Son's unwavering commitment to the AI boom.
Brief written by urgent.news from Semafor's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
