00:00Softbank cutting its plans for a 10 billion dollar margin loan backed by its open AI stake. Bloomberg learning that
00:05the conglomerate in separate talks with potential lenders may target an amount as low as six billion dollars. Let's bring
00:12in Matt Moxham of Bloomberg Intelligence for more. So Matt is this jitters particularly around this deal and this this
00:19particular you know set of loans or is it just the space in general that investors are becoming a little
00:25more skittish around.
00:27Yeah I hard to say but I think it's probably is more specifically about that this particular deal and the
00:33underlying security that's is based on. So this is about their stake in open AI. And I think there's a
00:40couple of things going on there. One obviously credit investors have some kind of questions about liquidity of a non
00:48listed equity that's kind of backing the loan.
00:51And also we're seeing this kind of big shift in momentum between open AI and its big rival Anthropik. And
00:57obviously Anthropik is getting the upper hand I think right now in terms of its kind of sales momentum.
01:03And so I think that's kind of perhaps shifting investors perspective a bit about on the appeal of the exposure
01:09to that underlying open AI equity.
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