SoftBank offers guarantee to secure $10B loan against OpenAI shares
Business
SoftBank is back at the table, trying to secure a $10 billion loan by putting up its OpenAI shares as collateral.
Talks had stalled because lenders were unsure how to value those shares, but SoftBank is now offering a guarantee: if the shares drop in value, lenders can claim other assets instead.
SoftBank loan underpins $60B AI push
This loan is a big piece of SoftBank's $60 billion push into AI, including projects tied to OpenAI, like the Stargate data center.
Lenders are still cautious, but OpenAI's secret IPO filing in June could make things smoother.
Meanwhile, SoftBank also needs to repay a separate $40 billion loan by 2027, so locking in new funding is pretty important right now.