SoftBank to Raise Over $11 Billion in Junk Bonds for OpenAI Stake Payment

SoftBank plans to borrow more than $11 billion through risky junk bonds to fund another OpenAI stake payment, the Financial Times reported citing investor documents. The offering would total $10 billion and €1 billion, with terms set Thursday and payment due in October. SoftBank had already arranged up to $40 billion in short-term OpenAI loans and now seeks longer-term debt, a move that could push it past its debt ceiling.