From Cloud Wars · Kieron Allen · · 1m
SoftBank Doubles Down on OpenAI
SoftBank borrows $11 billion to fund $10 billion OpenAI investment.
In brief
SoftBank borrows $11 billion to fund $10 billion OpenAI investment. SoftBank uses bond sales to finance its third $10 billion OpenAI investment, signaling confidence in the AI firm. Originally reported by Cloud Wars.
SoftBank's $10 Billion OpenAI Move
SoftBank plans a $10 billion investment in OpenAI through bond sales to fund AI innovation.
Bond Financing Details
SoftBank will issue $11 billion in senior unsecured bonds, with $10 billion in USD and $1 billion in euros.
Third Tranche of Investment
This is SoftBank's third tranche of OpenAI funding, expected to close on October 1.
Largest Asian Bond Deal
If completed, this will be the largest corporate bond deal by a non-financial company in Asia Pacific and Japan.
Not a Bank
SoftBank is an investment holding company, not a bank, using debt to fund OpenAI.
Signaling Confidence
The bond financing shows SoftBank's strong confidence in OpenAI's future success.
The one thing
SoftBank uses bond sales to finance its third $10 billion OpenAI investment, signaling confidence in the AI firm.
