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Bloomberg
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SoftBank Secures Record $40 Billion Bridge Loan to Invest in OpenAI
Japanese conglomerate SoftBank Group has signed a record $40 billion bridge loan to finance its stake in OpenAI. The deal deepens SoftBank's debt load as the company races to remain competitive in the global artificial intelligence industry. The loan is one of the largest ever secured for a single technology investment.
SoftBank Group Corp. signed a loan of $40 billion to finance its investment in OpenAI, adding to the Japanese company’s debt load as it seeks to stay abreast of a global artificial intelligence race.