SoftBank seeks more than 11B USD in bonds for OpenAI bet

SoftBank is seeking to raise more than 11B USD through a new junk-bond sale as it prepares another investment in OpenAI, according to Bloomberg reporting summarized by Analytics India Magazine.

The proposed deal includes 10B USD of dollar-denominated bonds across three maturities and 1B euros of euro notes. The proceeds would partly fund a follow-on investment in OpenAI that is expected to close next month. If completed, the sale would be one of the largest high-yield bond offerings by a single company outside distressed exchanges.

The financing matters because SoftBank has tied a large part of its AI strategy to OpenAI. AIM, citing Bloomberg, says the group has committed close to 65B USD to OpenAI and has used several debt channels to support that exposure, including a 40B USD bridge loan arranged earlier this year and an expanded margin loan backed by Arm shares.

For investors, the story is less about one bond sale than the funding model behind the AI race. SoftBank is using large-scale borrowing to increase its OpenAI stake while markets are watching higher yields, credit risk and the timing of any eventual OpenAI liquidity event.