SoftBank Group is aiming to secure a record $16.5 billion loan to fund its growing investments in artificial intelligence projects across the United States. This short-term loan, expected to have a 12-month term, would mark the company’s largest borrowing in US dollars to date. Talks with banks are still in the early stages, and the exact terms could change in the coming weeks.
The funds are likely to support SoftBank’s plan to lead a massive $40 billion funding round for OpenAI, the creator of ChatGPT. If successful, this round would value OpenAI at $300 billion — making it the largest financing deal ever. The initiative, known as “Stargate,” aims to speed up the global use of OpenAI’s services. SoftBank hasn’t commented publicly on the loan talks yet.
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