SoftBank seeks over $11 billion in junk bonds for OpenAI bet
One of the world's largest investors in AI, SoftBank's fortunes have become intertwined with its ability to monetize its holding in 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.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
