SoftBank raises $11.1B in bonds for OpenAI
SoftBank issued bonds worth $11.1 billion to finance its investments in artificial intelligence, aiming to support OpenAI and its investments totaling up to $64.6 billion upon completion. The bonds included a dollar-denominated issuance with a total value of $8.625 billion, along with 32 billion yen and 500 million euros, with maturities ranging from three to seven and a half years, and yields between 7.125% and 9.75%. The proceeds will be used to fund the final tranche of SoftBank’s investments in OpenAI, which focuses on developing AI technologies such as ChatGPT.
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