SoftBank Seeks Over $11 Billion in Junk Bonds for OpenAI Bet
SoftBank Group Corp. is seeking the equivalent of more than $11 billion in what would be one of the biggest junk bond deals ever, people familiar with the matter said Monday, as billionaire Masayoshi Son’s conglomerate ramps up its investments in ChatGPT creator OpenAI.
SoftBank Group is pursuing a potential $11.1 billion junk bond deal, sources reveal, as the conglomerate amplifies its financial commitment to OpenAI, the developer behind ChatGPT. The firm intends to issue $10 billion worth of dollar securities in three maturities, alongside €1 billion in euro notes across two tenors, according to individuals familiar with the matter, who requested anonymity due to the private nature of the discussions.
The funds will contribute towards a follow-on investment in OpenAI, slated to conclude next month, the sources added. SoftBank's engagement in AI is increasingly centered on OpenAI, with the company having pledged close to $65 billion, placing it at the forefront of debt-driven ventures within the artificial intelligence sector amid mounting safety concerns.
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- SoftBank seeks over $11 billion in junk bonds for OpenAI bet japantimes.co.jp
