TLDR
- SoftBank is seeking a $10 billion loan using its OpenAI shares as collateral
- The loan would run for two years with an option to extend by one year
- This follows a separate $40 billion bridge loan SoftBank secured in March
- More banks were invited to join the earlier $40 billion financing
- SoftBank shares rose 6% on Thursday following the news
SoftBank Group is seeking a $10 billion margin loan backed by its stake in OpenAI, according to a Bloomberg News report published Wednesday.
EXCLUSIVE: SoftBank is seeking a $10 billion loan backed by OpenAI shares, adding debt to fuel its AI push https://t.co/Y2ndaxpeAB
— Bloomberg (@business) April 23, 2026
The proposed loan would use SoftBank’s OpenAI shares as collateral. A margin loan lets a company borrow against assets it already holds, in this case a stake in one of the most talked-about AI companies in the world.
The loan would have a two-year term with an option to extend for one additional year. Bloomberg cited people familiar with the matter, and SoftBank declined to comment on the report.
SoftBank shares rose 6% on the Tokyo Stock Exchange on Thursday, broadly in line with wider market gains that day.
SoftBank’s Growing Debt Stack
This latest proposal is not the first time SoftBank has tapped debt markets to fund its OpenAI position.
In March, SoftBank confirmed it had signed a $40 billion unsecured bridge loan to fund its OpenAI investment and cover related expenses.
Shortly after, more banks were invited to join that financing in what Bloomberg described as a “soft launch,” pointing to the large number of lenders needed to support the deal.
The proposed $10 billion margin loan would sit alongside that earlier facility, giving SoftBank an additional source of capital.
SoftBank founder Masayoshi Son has made artificial intelligence the core of the company’s current strategy. The group has already committed tens of billions of dollars to OpenAI through its Vision Fund.
What the Loan Structure Means
Using OpenAI shares as collateral is an uncommon move because OpenAI is a private company. Its shares are not publicly traded, which makes valuing them more complex than listed stocks.
The structure shows how lenders are treating exposure to large private AI companies as acceptable collateral, at least at the current scale.
No pricing, specific lenders, or final terms were disclosed in the Bloomberg report. Discussions are described as ongoing and terms could still change.
The two-year term with an extension option gives SoftBank some flexibility on repayment timing.
If completed, this loan would be the latest in a string of large debt-backed moves SoftBank has made to maintain and grow its position in OpenAI.
SoftBank has not confirmed the deal or provided additional details beyond declining to comment when approached by Bloomberg.
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