Japanese investment giant SoftBank Group is reportedly working to secure a massive $10 billion loan using its ownership stake in artificial intelligence company OpenAI as collateral, according to a Bloomberg News report published Wednesday.
Sources familiar with the matter told Bloomberg that the proposed financing arrangement would be structured as a two-year margin loan, with SoftBank having the flexibility to extend the borrowing period for an additional 12 months if needed.
The loan would be backed by SoftBank’s shares in OpenAI, the company behind the popular ChatGPT artificial intelligence platform that has revolutionized how people interact with AI technology.
Reuters has not been able to independently confirm the details of this reported loan arrangement.
