SoftBank increases AI investment through $15 billion syndicated loan

According to Golden Finance, SoftBank Group will use a loan led by Mizuho Bank, Sumitomo Mitsui Banking Corporation, and JPMorgan Chase as lead underwriters to finance its artificial intelligence investment, demonstrating SoftBank's ability to secure funding for its grand ambitions. According to sources, this one-year $15 billion bridge loan is one of SoftBank's largest financing to date, and will be funded by 21 banks, with Mizuho Bank providing $1.35 billion, SMBC providing $1.25 billion, and JPMorgan Chase providing $1 billion. In addition, HSBC and Barclays jointly contributed $950 million, while seven banks including Goldman Sachs and Mitsubishi UFJ jointly contributed $850 million. This funding will support SoftBank's multi-year plan to influence the development of artificial intelligence. Chief Financial Officer Yoshimitsu Goto revealed at last week's earnings conference that the first agenda includes acquiring chip design company Ampere Computing for $6.5 billion and investing up to $30 billion in OpenAI.