SoftBank Seeks $10B Loan Using OpenAI Stake as Collateral Amid $60B AI Bet

TL;DR SoftBank is pursuing a $10 billion margin loan backed by its OpenAI stake, adding to over $60 billion in AI-related commitments while reducing exposure to Nvidia and T-Mobile.

Context SoftBank Group (9984.T) has long used its Vision Funds to place large bets on technology companies. The proposed loan would last two years, with a one‑year extension option, and carry an interest rate near 7.88% annually. The loan is structured as a margin facility, meaning SoftBank would pledge its OpenAI shares as collateral; if the value of those shares falls below a threshold, the lender could demand additional collateral or repayment.

Key Facts - SoftBank’s total commitments to OpenAI now exceed $60 billion, comprising $30 billion from Vision Fund 2, a $40 billion bridge loan arranged earlier this year, and the new $10 billion margin loan. - The company has sold its entire $5.8 billion stake in Nvidia (NVDA) and trimmed its T-Mobile US (TMUS) holding by $4.8 billion, reallocating proceeds to AI initiatives. - SoftBank’s market capitalization stands at roughly $85 billion; its shares traded down about 1.8% in the latest session, while Nvidia rose 1.2% and T-Mobile slipped 0.6%.

What It Means By leveraging its OpenAI position, SoftBank increases financial leverage to maintain a large AI footprint without raising fresh equity. The strategy concentrates risk on a single private company whose valuation hinges on future product adoption and a potential IPO. Investors will monitor OpenAI’s revenue growth, any IPO timing, and SoftBank’s debt‑to‑EBITDA ratio as the loan terms finalize.