Investors watch SoftBank’s OpenAI funding plans

SoftBank Group reports full-year earnings as investors question how it will fund a planned US$60 billion investment in OpenAI.

Investors are also watching whether rising competition and reports of weaker-than-target revenue at the ChatGPT maker will hurt returns.

Analysts expect SoftBank to post net income of about 3.3 trillion yen (US$20.8 billion) for the year ended March, helped by AI-related holdings.

The company’s stock has risen 90% stake in the past month.

Concerns remain over leverage after SoftBank sought up to US$40 billion in bridge financing for the OpenAI deal.

Investors are also looking for details on asset sales and expected revenue from the tie-up.

🔗 Source: Bloomberg

🧠 Food for thought

Implications, context, and why it matters.

The US$40 billion borrowing runs for one year and is unsecured, so SoftBank has not pledged assets 1.
The money will fund a previously announced US$30 billion follow-on investment in OpenAI through SoftBank Vision Fund 2, the company’s investment fund, with the rest reserved for general corporate use 2.
Lenders include JPMorgan Chase, Goldman Sachs, and Mizuho Bank as part of a wider bank group 1.
In the last three months of 2025, SoftBank added US$27 billion in debt, partly to pay for a separate US$22.5 billion OpenAI investment made in December 1.

The strategy aims for more than investment gains. It links OpenAI with Arm Holdings, the chip designer SoftBank controls 3.
OpenAI is expected to become an early buyer of Arm chips as SoftBank builds closer links across its portfolio companies 3.
By putting so much money into one private AI company, SoftBank is taking on more exposure instead of spreading funds across the tech sector 3.
That creates concentration risk. It could also let SoftBank benefit from both the hardware and software sides of AI if the plan works 3.