Japanese conglomerate SoftBank is reportedly seeking a loan of up to $40 billion, primarily to finance its investment in ChatGPT-maker OpenAI. The bridge loan, expected to have a roughly 12-month tenor, is being underwritten by four lenders, including JPMorgan.
SoftBank CEO Masayoshi Son has made a significant commitment to artificial intelligence, with the Japanese firm holding an approximately 11% stake in OpenAI at the close of last year. This move aligns with OpenAI's reported preparations for an initial public offering, which could value the company at as much as $1 trillion.
Previously, OpenAI announced plans for a $110 billion funding round that could value the company at $840 billion, with contributions expected from SoftBank, Nvidia, and Amazon.