SoftBank Seeks $10B Loan on OpenAI Stake as Core Scientific Raises $3.3B

SoftBank Group Corp. is pursuing a $10 billion loan secured by its shares in OpenAI, the U.S. artificial intelligence powerhouse, as part of its aggressive expansion into AI technologies. According to people familiar with the matter who spoke to Bloomberg, this move signals SoftBank's willingness to take on substantial debt to fuel its AI ambitions amid a booming sector.

This financing effort comes at a time when SoftBank, led by founder Masayoshi Son, has been ramping up investments in artificial intelligence following high-profile bets like its stake in OpenAI. The loan, if secured, would provide SoftBank with significant liquidity to support further AI initiatives without immediately diluting its equity holdings. Bloomberg reporter Trista Xinyi Luo highlighted the deal's structure, noting it relies directly on SoftBank's OpenAI shares as collateral.

In a parallel development underscoring the high-risk borrowing frenzy in AI infrastructure, Core Scientific Inc. has successfully raised $3.3 billion through a high-yield "junk bond" offering. The company, a key player in digital infrastructure for high-density computing, announced the proposed sale of senior secured notes via its subsidiary, Core Scientific Finance I LLC, as detailed in its investor press release.

Core Scientific plans to use the proceeds strategically: a portion will repay outstanding delayed draw term loans from a prior 364-day credit facility, including interest and fees, while the rest will fund a debt service reserve and make distributions back to the parent company. The notes are backed by guarantees from several Core Scientific subsidiaries, including those in Austin, Denton, Dalton, Marble, and Muskogee, Texas. Bloomberg described this as the latest example of risky debt tied to AI data center builds.

These transactions reflect broader market dynamics where AI hype is driving unprecedented leverage. Companies like SoftBank and Core Scientific are betting big on the sector's growth, with SoftBank leveraging its OpenAI position and Core Scientific expanding colocation facilities for AI workloads. Investors and analysts will watch closely for how these loans perform, as rising interest rates and potential AI market corrections could strain repayment.

For those affected—ranging from SoftBank shareholders facing increased debt exposure to Core Scientific's partners in AI infrastructure—these deals could accelerate innovation but also heighten financial risks. What happens next includes finalizing SoftBank's loan terms with lenders and Core Scientific's note issuance closing, subject to market conditions. The success of such financings may set precedents for how AI firms fund explosive growth in the coming years.