SoftBank is reportedly seeking a loan of up to $40 billion to finance its investment in OpenAI, the creator of ChatGPT, according to Bloomberg. This bridge loan is expected to have a 12-month tenor and involves four lenders, including JPMorgan. Ongoing talks may lead to changes in terms, and neither SoftBank nor OpenAI has commented on the report. CEO Masayoshi Son is strategically betting on artificial intelligence, maintaining an 11% stake in OpenAI as of last year. OpenAI is preparing for an IPO that could value the company at up to $1 trillion. Additionally, the firm plans to raise $110 billion in its funding round, which may consist of investments from SoftBank, Nvidia, and Amazon, potentially elevating OpenAI’s valuation to $840 billion. This move underscores the growing significance of AI investments in the tech landscape.
Source link
Share
Read more