SoftBank is seeking a $16.5 billion loan for AI projects in the US. According to people familiar with the matter, SoftBank Group is seeking a loan of up to $16.5 billion to fund its artificial intelligence investments in the US. This would be the company's largest...

SoftBank Seeks $16.5 Billion Loan for AI Projects in the US

SoftBank Group is seeking a loan of up to $16.5 billion to fund its artificial intelligence investments in the United States, which would be the company's largest ever pure dollar-denominated loan, according to people familiar with the matter. The bridging loan under discussion has a term of about 12 months, the people said. The negotiations with banks are in the early stages and details could change in the coming weeks, the people added. SoftBank is seeking financing to explore ways to launch a $500 billion artificial intelligence infrastructure project in the US, while also pursuing ambitious projects in the fields of robotics and semiconductors. The bridging loan could help SoftBank lead a $40 billion financing for AI company OpenAI, the people familiar with the matter said.

—— Bloomberg

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