SoftBank seeks record $16.5 billion loan for AI projects in US

SoftBank Group Corp. is seeking a loan of as much as $16.5 billion to help fund artificial intelligence investments in the US, according to people familiar with the matter, in what would be the tech investor’s largest-ever facility denominated solely in dollars.

The bridge loan under discussion has a tenor of about 12 months, said the people, who asked not to be identified discussing private matters. Talks with banks are in early stages and details may change over the coming weeks, the people added.