SoftBank plans $11B fund for OpenAI
SoftBank Group is seeking to raise over $11 billion through the issuance of high-yield bonds, aimed at funding an additional investment in the artificial intelligence company OpenAI, which is expected to be completed next month. The plans include issuing $10 billion in dollar-denominated bonds with three maturities and €1.1 billion in euro-denominated bonds with two maturities, making it one of the largest high-yield bond deals ever. SoftBank aims to leverage its significant stake in OpenAI, which has committed to investing approximately $65 billion in the company, to strengthen its position in the artificial intelligence market, despite its BB+ credit rating, which is considered speculative.
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