SoftBank seeks $11 billion in bonds to boost OpenAI stake
Bloomberg reported that SoftBank is preparing one of the largest junk-bond sales on record, with part of the proceeds earmarked to increase its stake in OpenAI, according to accounts relaying the report.
SoftBank is seeking more than $11 billion in junk bonds, in what would be one of the biggest such deals on record. Bloomberg reported the figure, according to BullTheoryio and Cointelegraph. Part of the proceeds are earmarked to increase SoftBank's stake in OpenAI.
PhotonCap, which tracks chip and AI infrastructure spending, described the raise separately as signalling an aggressive strategic pivot toward generative AI by SoftBank. PhotonCap gave no further detail on how the debt would be structured.
Neither SoftBank nor OpenAI has confirmed the deal size. Neither has said how any proceeds tied to OpenAI would be allocated. Bloomberg's original report was not itself reviewed for this story, and the figures here come from accounts relaying it Monday.
The reported raise would add to a series of debt-linked moves this year as SoftBank has pushed further into AI investment. None of the three accounts said when the bond sale itself might close, or which banks would underwrite it.