First Abu Dhabi and GIC in SoftBank deal
SoftBank has turned to financing its investment in the artificial intelligence company "OpenAI" by securing a $40 billion loan, with 21 lenders participating. These lenders include First Abu Dhabi Bank, GIC, and Standard Chartered Bank. Each of these institutions received an approximate stake of one billion dollars, while the remaining funds were distributed among European, Japanese, and Taiwanese banks. This comes as part of a 12-month bridge financing deal, with expectations of generating over $100 million in fees for the lending institutions. The funding is intended to support SoftBank's investments in "OpenAI," which are valued at around $85.2 billion, with the group committing more than $60 billion to the company.
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