Japanese investment giant SoftBank Group has scaled back its ambitious borrowing plans, reducing the target for a loan secured by its artificial intelligence investment from $10 billion to $6 billion, Bloomberg News reported Friday.
The tech conglomerate made the decision after encountering reluctance from potential lenders who were hesitant to participate in the margin loan backed by SoftBank’s stake in OpenAI, according to sources familiar with the negotiations cited by Bloomberg.
During recent discussions between SoftBank executives and banking partners, the conversation has shifted toward securing a significantly smaller amount, with figures as low as $6 billion being mentioned, the report indicated.
Reuters noted it was unable to independently confirm the Bloomberg report at the time of publication.
