SoftBank secures $10 billion loan using OpenAI stake as collateral
Business
SoftBank has scored a $10 billion loan by putting up its stake in OpenAI as collateral.
The deal, announced on Wednesday, is all about giving SoftBank more fuel for its big AI ambitions.
Major banks like Goldman Sachs and JPMorgan are backing the move, and the loan runs for two years.
SoftBank's Vision Fund II-2 worries investors
SoftBank says the cash will cover general corporate needs and help fund its Vision Fund II-2 (its massive tech investment pool).
The company's total investment in OpenAI could hit $65 billion soon, though leaning on loans this much has some investors feeling cautious about all that debt and whether these AI bets will pay off.