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SoftBank secures US$40 billion loan to fund OpenAI investment

SoftBank Group Corp. has secured a US$40 billion bridge loan to support its ongoing investment in US artificial intelligence developer OpenAI, marking one of the largest dollar-denominated borrowings in the Japanese conglomerate’s history. The unsecured loan, arranged with JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking Corp., and MUFG Bank, is set to mature on March 25, 2027, according to Jiji Press, The Japan Times, Reuters, and TechCrunch.