SoftBank renews talks for $10 billion loan against OpenAI stake, adds concessions

July 1 – SoftBank Group has reopened talks with a consortium of lenders for a $10 billion loan backed by its stake ​in OpenAI, after earlier attempts to secure a ​loan stalled over concerns about the difficulty of valuing private companies, two people familiar with ​the matter said.

To make lenders more comfortable, the Japanese technology investor is offering to guarantee repayment of the loan, giving banks recourse to SoftBank if the OpenAI shares pledged as collateral lose value, the people said.