SoftBank attracts 21 new lenders to fund OpenAI investment: Report

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SoftBank Group Corp. has attracted 21 new lenders to participate in a $40 billion bridge loan to fund its investment in OpenAI, signaling continued bank appetite for the Japanese conglomerate’s AI bets, Bloomberg reported, citing sources.

The sources added that the new lenders will provide around $7 billion of the total facility, while the remaining $33 billion stays with the lead underwriters.

The 12-month loan stands as one of the largest bridge facilities in the Asia-Pacific region and is expected to generate over $100 million in fees for arranging banks.

The facility had gathered nine banks prior to its syndication to financial institutions last May, despite concerns over SoftBank's growing exposure to the ChatGPT creator amid intensifying competition from Anthropic.