(Bloomberg) – SoftBank Group is seeking loans up to $16.5 billion to help invest in AI in the U.S., which will be the largest facility ever for technology investors to denominate in dollars.
People say the bridge loan under discussion has tenors of about 12 months and they demand that they do not identify discussions on private matters. The negotiations with the bank are in an early stages and details are likely to change in the coming weeks, people added.
SoftBank representatives declined to comment.
Softbank is seeking financing as it explores ways to launch a $500 billion AI infrastructure project in the U.S., while also pursuing ambitious projects in robotics and semiconductors. Although the Japanese company is working with OpenAI, Oracle Corp. and Abu Dhabi’s MGX, SoftBank remains the leading financier at Data Center Buildout, which promised U.S. President Donald Trump.
The bridge may help SoftBank lead $40 billion in Openai, people say. The move will focus ChatGpt creators on $300 billion, the largest financing ever. The Stargate program aims to support the widespread use of OpenAI services.
SoftBank’s previous dollar loan record was a $10 billion margin loan obtained in 2021, backed by its shares in Alibaba Group Holding Ltd. At least 14 banks had joined the facility, Bloomberg News reported then.
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