Synopsis
SoftBank is reportedly seeking a massive $10 billion loan, leveraging its stake in ChatGPT's creator, OpenAI. This move signals the Japanese tech giant's intensified commitment to artificial intelligence, following a period of significant financial volatility. The loan, potentially extendable, follows a substantial $40 billion bridge loan secured earlier this year to fuel further AI investments.The loan underscores the Japanese investment conglomerate's increasingly aggressive bet on artificial intelligence, following years in which SoftBank swung between outsized gains and heavy losses in its Vision Fund.
The two-year margin loan would carry an option for SoftBank to extend the borrowing by an additional year, the report said.
Reuters could not immediately verify the report. OpenAI and SoftBank did not immediately respond to Reuters' requests for comment. The development follows a $40 billion bridge loan that SoftBank secured in March to bolster investments in OpenAI and for general corporate purposes as it continues to strengthen ties with the AI firm.
The Japanese investor has previously agreed to invest $30 billion in OpenAI through its Vision Fund 2.
