SoftBank's $6B OpenAI-Backed Margin Loan Talks Stall; Target Cut from $10B

According to Bloomberg, on June 10, SoftBank stalled talks to raise $6 billion through a margin loan backed by its OpenAI stake, reducing the original target from $10 billion due to banks' caution over valuing private company shares. SoftBank has invested $2.2 billion in OpenAI through Vision Fund 2 since September 2024 and agreed in March 2025 to make follow-on investments of up to $40 billion, with $30 billion as its direct commitment. A $40 billion bridge facility is in place until March 2027. OpenAI's confidential IPO filing and a recent employee tender offer valuing the company at $852 billion could potentially ease the financing environment.
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