Startups
SoftBank secures $40 billion bridge loan to fund further OpenAI investment
Image: Primary SoftBank has taken on a new $40 billion loan to cover its $30 billion commitment to invest in OpenAI. The Japanese conglomerate said the financing supports its role in the AI model maker's $110 billion raise last month. It disclosed the details on Friday.
The loan is unsecured and has a 12-month term. It must be repaid or refinanced
The short repayment window signals that lenders expect OpenAI to complete a public listing later this year. CNBC has reported on that timeline. SoftBank's latest investment brings its total commitment to the ChatGPT maker to more than $60 billion. An OpenAI initial public offering this year would give the company liquidity to settle the debt on schedule.
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