SoftBank invited Mizuho, SMBC, etc. to lead a $15 billion loan.

SoftBank Invites Mizuho, SMBC, etc. to Lead $15 Billion Loan

SoftBank Group Corp.'s investments in the artificial intelligence field will be financed through a loan, with Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation (SMBC), and JPMorgan Chase & Co. serving as lead underwriters. This move demonstrates the Japanese technology investor's ability to secure financing for its ambitious plans. People familiar with the matter said that the one-year, $15 billion bridge loan will be funded by 21 banks, including Mizuho Bank providing $1.35 billion, Sumitomo Mitsui Banking Corporation providing $1.25 billion, and JPMorgan Chase providing $1 billion. In addition, HSBC and Barclays jointly contribute $950 million, and seven banks including Goldman Sachs Group and Mitsubishi UFJ jointly contribute $850 million. This funding will support SoftBank's multi-year plan to try to influence the development process of AI.

—— Bloomberg

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