00:00It's Benzinga, bringing Wall Street to Main Street.
00:02SoftBank Group said Friday it secured a $40 billion bridge loan to support investments in
00:07OpenAI and for general corporate purposes, according to Reuters. The unsecured loan was
00:12arranged with JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking Corp.,
00:18and MUFG Bank. It matures in March 2027. SoftBank previously agreed to invest $30 billion in OpenAI
00:25through Vision Fund 2. The move expands ties with OpenAI as competition in generative AI
00:31intensifies. OpenAI has seen widespread adoption of ChadGPT and rising investment interest.
00:38SoftBank and OpenAI were involved in the Stargate project, which aims to invest up to $500 billion
00:43in USAI infrastructure. Sun also announced plans in December 2024 to invest $100 billion in USAI
00:51over four years. For all things money, visit Benzinga.com.
00:55For all things money, visit Benzinga.com.
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