SoftBank is going to great lengths to double down on OpenAI — including taking on significant debt. After completing a $40 billion investment to become one of the ChatGPT maker’s largest backers, the Japanese conglomerate is now seeking a roughly $40 billion loan with a 12-month term, Bloomberg reports.
The financing would be SoftBank’s largest-ever dollar-denominated deal. The AI investment has helped lift profits, but it is also pressuring SoftBank’s credit profile.