SoftBank Group is pursuing a $10 billion loan backed by its holdings in OpenAI, the company behind ChatGPT, as it increases borrowing to support its artificial intelligence initiatives, Bloomberg News reported on Wednesday, based on information from sources. This move highlights the Japanese investment firm’s growing commitment to AI, after periods of significant profits and substantial losses in its Vision Fund. The margin loan is set for a two-year term, with the possibility for SoftBank to prolong it by another year, according to the report. Reuters was unable to confirm the details immediately. Neither OpenAI nor SoftBank provided immediate responses to Reuters’ inquiries. This comes after SoftBank obtained a $40 billion bridge loan in March to enhance its investments in OpenAI and for other business needs, as it deepens its relationship with the AI company. The Japanese firm has also committed to a $30 billion investment in OpenAI via its Vision Fund 2.
