SoftBank Group is seeking to broaden lender participation in a massive $40 billion loan tied to its investment in OpenAI, marking a pivotal moment in testing global creditor confidence in the company’s aggressive, debt-backed expansion into artificial intelligence. The financing deal has entered a “soft launch” phase, with additional banks being invited to join as sub-underwriters, according to sources familiar with the matter.
Interested lenders are expected to commit around $5 billion each, signaling the scale and risk associated with the transaction. Major financial institutions including JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking Corporation, and Mitsubishi UFJ Financial Group have already underwritten the bridge loan facility. The loan is scheduled to mature on March 25, 2027, forming a key component of SoftBank’s latest strategic bet.
The deal underscores the determination of SoftBank founder Masayoshi Son to cement the company’s position in the global AI race, even at the cost of significantly increasing leverage. The investment adds to more than $30 billion SoftBank has already poured into OpenAI, making it one of the conglomerate’s largest holdings alongside its dominant stake in Arm Holdings.
However, the scale of borrowing has raised concerns among analysts and credit agencies. In March, S&P Global Ratings downgraded SoftBank’s credit outlook from stable to negative, warning that the company’s deepening exposure to OpenAI could strain liquidity and weaken the quality of its asset base. The shift reflects growing unease over whether the long-term returns from AI investments will justify the near-term financial risks.
In parallel with the loan syndication, SoftBank is also exploring additional funding through the bond market. The company is reportedly in discussions with investors بشأن a potential multi-part bond issuance in both dollars and euros, further highlighting its reliance on external financing to sustain its AI ambitions.
The outcome of the loan syndication will serve as a critical barometer of market appetite for large-scale, debt-funded technology investments. As competition intensifies globally in artificial intelligence, SoftBank’s high-stakes strategy is increasingly seen as both a bold bid for leadership and a significant financial gamble.