SoftBank Group (TYO:9984) has reduced the target size of a margin loan backed by its stake in OpenAI after some lenders raised concerns about valuing the privately held AI company, Bloomberg News reported Friday, citing people familiar with the matter.
The Japanese technology investor and its advisers recently discussed raising as little as $6 billion, down from an earlier $10 billion target, the sources reportedly said.
Talks with private credit firms, banks and hedge funds remain ongoing, and the final size could still change, the report said, citing the people.
Some potential lenders expressed caution over using OpenAI shares as collateral because the company is unlisted and difficult to value. Broader concerns have also emerged over whether heavy AI investment will generate profits quickly enough, according to the report.
SoftBank has borrowed heavily to fund aggressive investments in OpenAI as founder Masayoshi Son expands the group's AI strategy. The company secured a $40 billion loan in March and later committed another $30 billion to OpenAI, the report said.
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