SoftBank seeks record $16.5 billion loan for AI projects in US | Company Business News
SoftBank Group Corp. is seeking a loan of as much as $16.5 billion to help fund artificial intelligence investments in the US, according to people familiar with the matter, in what would be the tech investor’s largest-ever facility denominated solely in dollars.
The bridge loan under discussion has a tenor of about 12 months, said the people, who asked not to be identified discussing private matters. Talks with banks are in early stages and details may change over the coming weeks, the people added.
A representative for SoftBank declined to comment.
SoftBank is seeking financing as it explores ways to roll out a $500 billion AI infrastructure project in the US while it also pursues ambitious projects in both robotics and semiconductors. Although the Japanese company is teaming up with OpenAI, Oracle Corp. and Abu Dhabi’s MGX on the Stargate AI venture, SoftBank remains the main financier of the data center buildout it’s promised US President Donald Trump.
The bridge loan may help SoftBank lead a $40 billion funding round in OpenAI, the people said. The move values the ChatGPT creator at $300 billion in what’s slated to be the largest financing round of all time. The Stargate initiative is aimed to support widespread use of OpenAI services.
SoftBank’s previous dollar loan record was a $10 billion margin loan obtained in 2021, backed by its shares in Alibaba Group Holding Ltd. At least 14 banks had joined the facility, Bloomberg News reported then.
