SoftBank turns to more debt to fund its AI push

SoftBank is lining up almost $21 billion in new or expanded borrowing as it funds an increasingly expensive AI strategy centered on OpenAI. The package includes an $11.87 billion loan, a larger loan backed by its Arm chip-design shares, and a possible expansion of an Apollo loan; separately, it is weighing a $10 billion to $20 billion dollar-bond sale and has expanded a credit line to $6.5 billion. That does not mean all of the money has been borrowed or spent: some facilities are potential, while the bonds remain under consideration. But it shows how SoftBank is turning valuable holdings and access to credit into cash now, after committing $65 billion to OpenAI—raising the stakes if AI returns take time to arrive.