SoftBank Group is close to syndicating a US$40 billion bridge loan to fund its OpenAI investment. The deal is set to generate more than US$100 million in fees for underwriters including JP Morgan Chase and Goldman Sachs, according to people familiar with the matter.

SoftBank previously agreed to make follow-on investments of up to US$40 billion in OpenAI and planned to syndicate US$10 billion to co-investors, leaving a commitment of up to US$30 billion.

SoftBank said the investment was tied to the Stargate Project, an AI infrastructure initiative with OpenAI in the US. It added that the initial US$10 billion payment due in April 2025 was expected to be financed through borrowings from Mizuho Bank and other financial institutions.

The 12-month facility will stay on the lenders’ balance sheets until maturity or repayment. Some banks joined the deal despite concerns over SoftBank’s rising debt and growing exposure to OpenAI, the people said.

SoftBank reported 8.2 trillion yen (US$50.5 billion) in net debt and 40.1 trillion yen (US$246 billion) in net asset value as of March 31, 2026.

🔗 Source: Bloomberg

Recent SoftBank developments