SoftBank Provides $40 Billion Bridge Loan to OpenAI

SoftBank Group secures a $40 billion unsecured bridge loan from Goldman Sachs, JPMorgan Chase, and three Japanese banks to increase its stake in OpenAI from 10% to 13%, bringing its total investment to $64.6 billion. The bridge loan, executed on March 27, 2026, matures in one year and will support SoftBank's general operations while fulfilling its follow-on commitment to OpenAI. This follows OpenAI's massive $110 billion funding round in February 2026 that included $50 billion from Amazon and $30 billion from Nvidia, with Microsoft maintaining the largest stake at 27%. SoftBank CEO Masayoshi Son is also backing the $500 billion Stargate AI infrastructure project alongside OpenAI, positioning the Japanese conglomerate as a major player in the global AI race despite taking on significant financial leverage.

SoftBank's $40 Billion Bridge Loan Structure and Terms

• ▪SoftBank Group secured a $40 billion bridge loan to fulfill a follow-up funding commitment to OpenAI.
• ▪SoftBank's bridge loan facility is set to mature on March 25, 2027.
• ▪The lenders for SoftBank's $40 billion bridge loan include Goldman Sachs, JPMorgan Chase, MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation.
• ▪SoftBank's $40 billion bridge loan is unsecured.
• ▪SoftBank's $40 billion bridge loan was executed on March 27, 2026.
• ▪SoftBank will use the $40 billion bridge loan to support general operations in the Japanese conglomerate.

SoftBank's Growing Investment Strategy in OpenAI and AI

• ▪SoftBank invested $40 billion in OpenAI for a 10% stake.
• ▪SoftBank's $64.6 billion total investment in OpenAI represents a 13% stake.
• ▪SoftBank Group is increasing its investment in OpenAI with the aim of pushing its stake to 13%.
• ▪SoftBank's follow-on commitment will bring its total investment in OpenAI to $64.6 billion.
• ▪The Stargate project targets $500 billion in AI investment over a four year period.

OpenAI's $110 Billion Funding Round and Major Investors

• ▪OpenAI conducted a $110 billion funding round in February 2026.
• ▪SoftBank committed to invest $30 billion in OpenAI through its Vision Fund 2 as part of the February 2026 funding round.
• ▪Microsoft negotiated its 27% stake in OpenAI as part of a restructuring deal with OpenAI in 2025.
• ▪Amazon invested $50 billion in OpenAI's February 2026 funding round.

Perspective of SoftBank Group and Masayoshi Son

• ▪SoftBank's $40 billion unsecured bridge loan represents significant financial risk for the Japanese conglomerate.

Perspective of OpenAI

• ▪SoftBank's increased stake to 13% makes it one of OpenAI's largest shareholders after Microsoft's 27% position.
• ▪OpenAI's February 2026 funding round at $110 billion valuation attracted commitments from major technology investors including Amazon and Nvidia.

Perspective of Financial institutions lending to SoftBank

• ▪Goldman Sachs, JPMorgan Chase, MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation are collectively exposed to $40 billion in unsecured credit risk from SoftBank.
• ▪The one-year maturity period until March 25, 2027 requires SoftBank to refinance or repay the $40 billion bridge loan relatively quickly.

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