# SoftBank Warns New OpenAI Commitment Could Push Its Debt Ratio Past Self-Imposed Ceiling

_Tuesday, March 24, 2026 at 12:11 AM EDT · Tech & Business · Latest · Tier 1 — Major_

![SoftBank Warns New OpenAI Commitment Could Push Its Debt Ratio Past Self-Imposed Ceiling — Primary](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i_XSzuTILgc8/v1/1200x800.jpg)

SoftBank has acknowledged its loan-to-value ratio could breach its self-imposed 25% ceiling as it finalizes a 0 billion follow-on investment in OpenAI, the Financial Times reports.

The Japanese conglomerate's LTV stood at 20.6% as of its last disclosure. Analysts project the ratio could approach the 35% emergency threshold once the OpenAI commitment is fully funded, potentially requiring SoftBank to sell at least 5 billion in assets to stay within limits.

SoftBank entered a definitive agreement on February 27 to invest 0 billion in OpenAI via Vision Fund 2, bringing cumulative investment to 4.6 billion for approximately 13% ownership. S&P cut its credit outlook to negative in March following the announcement.

The bet requires OpenAI's valuation to continue rising. SoftBank's Vision Fund lost more than 0 billion in value during the 2022 tech downturn before recovering on AI momentum.

Sources: Financial Times, Bloomberg

## Sources

- [Financial Times](https://www.ft.com/content/softbank-openai-ltv-ratio)
- [Bloomberg](https://www.bloomberg.com/news/articles/2026-03-03/softbank-s-30-billion-openai-bet-spurs-s-p-credit-outlook-cut)

## Story thread

softbank-openai

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