SoftBank seeks $10B Mizuho-led loan to pay OpenAI debt
SoftBank Group Corp. the Japanese tech giant, is looking to borrow $10 billion to help pay off debt from its big bet on US tech giant OpenAI.
The loan, with Mizuho Bank Ltd. as the mandated lead arranger and bookrunner, comes with a two-year term and is part of SoftBank's push to double down on artificial intelligence, after already planning a massive close to $65 billion investment in OpenAI by October 2026.
SoftBank weighs $10B-$20B bond sale
Besides this loan, SoftBank is considering a bond sale worth $10 billion to $20 billion and another retail bond offering in Japan for about $6.3 billion.
Earlier this month, it also took out another $10 billion loan backed by its OpenAI stake.
Meanwhile, US companies have borrowed more than $410 billion so far this year for such facilities and other AI investments in the bond markets alone, showing just how much faith (and money) investors are pouring into the future of AI.