Story perspectives
SoftBank Locks $11.87B Two-Year Loan for OpenAI Investment
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Story summary
- SoftBank Group secured an $11.87 billion two-year loan to fund its OpenAI investment.
- About 20 banks committed to the facility, exceeding SoftBank’s earlier $10 billion target.
- SoftBank shares fell up to 13% on Monday, the steepest drop since July 17.
- OpenAI CEO Sam Altman said the company will not pursue a public listing this year.