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SoftBank secured a new $40 billion loan to help it cover its $30 billion commitment to invest in OpenAI as part of the AI model maker’s plan. It raised a record $110 billion last monththe Japanese conglomerate He said on Friday.
Most strikingly, the loan is unsecured and has a term of 12 months, meaning it must be repaid or refinanced by next year. This may be a signal that lenders believe OpenAI’s anticipated public listing will indeed come later this year, as some market outlets, Like CNBCAnd I have been informed. The loan is provided by JPMorgan Chase, Goldman Sachs and four Japanese banks.
Since OpenAI’s IPO would be one of the largest ever, if it happens this year, it should give SoftBank the liquidity needed to settle debt in such a short period of time. SoftBank’s new $30 billion investment in OpenAI brings its total bet on the ChatGPT maker to more than $60 billion.