SoftBank aims for $10 billion credit line to back OpenAI
According to a Bloomberg report, SoftBank Group is looking to secure a $10 billion loan to support its financial commitment to OpenAI. This two-year credit arrangement is expected to have an interest rate roughly 275 basis points above SOFR. Mizuho Bank is set to lead the deal as SoftBank increases its debt-based funding for the OpenAI venture. The money raised might be used to partially settle a $40 billion bridge loan obtained earlier this year.
by shortkt.com✓