SoftBank has taken a new $40 billion loan to help meet its $30 billion commitment to invest in OpenAI as part of the AI model maker. Record-breaking $110 billion increase last monthJapanese group said on friday.
The most important thing is that the loan is unsecured and has a tenure of 12 months, which means it must be repaid or refinanced by the next year. This could be a sign that lenders believe OpenAI’s much-anticipated public listing will indeed come later this year, as some market outlets, like cnbcHave reported. The loan was provided by JPMorgan Chase, Goldman Sachs and four Japanese banks.
Since OpenAI’s IPO will certainly be one of the largest listings ever, if it happens this year, it will likely provide SoftBank with the liquidity to settle the debt in such a short period of time. SoftBank’s new $30 billion investment in OpenAI brings its total bet on the creator of ChatGPIT to more than $60 billion.
