SoftBank seeks $10 billion margin loan backed by OpenAI shares: Bloomberg

SoftBank Group is seeking a $10 billion loan secured by its shares in ChatGPT-maker OpenAI as it takes on ‌more debt ⁠for ⁠its push into AI, Bloomberg News reported on Wednesday, citing sources.

The loan underscores the Japanese investment conglomerate’s increasingly aggressive bet on artificial intelligence, following years in which SoftBank swung between outsized ⁠gains and heavy ‌losses in its Vision Fund.

The two-year margin loan would ⁠carry an option for SoftBank to extend the borrowing by an additional year, the report said.