Market Chatter: SoftBank Group's $6 Billion OpenAI Margin Loan Talks Stall
SoftBank Group's (TYO:9984) plans to raise about $6 billion through a margin loan backed by its stake in OpenAI have stalled, weeks after the Japan-based multinational investment group reduced its fundraising target from $10 billion.Bloomberg News reported Wednesday, citing people familiar with the matter, that the conglomerate is evaluating alternative financing options and may revive margin-loan talks at a later stage.During the earlier talks with potential lenders, the group secured about $5 billion in margin loan commitments, and the pause comes amid OpenAI's confidential filing for an initial public offering in the US, according to the report.Meanwhile, SoftBank's $60 billion commitment to OpenAI is under investor scrutiny amid growing competition in artificial intelligence and concerns over the future of AI business, the news outlet reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)