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SoftBank Group secures $40 billion bridge loan
On March 27 local time, SoftBank Group announced that it has secured a $40 billion bridge loan to increase its investment in OpenAI and for general corporate purposes. The company had previously agreed to invest $30 billion in OpenAI through Vision Fund 2. The company said the bridge loan is an unsecured loan with a term until March 2027, arranged by lenders including JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking Corporation, and Mitsubishi UFJ Bank, among other institutions.