SoftBank pursues $10B loan against OpenAI stake
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SoftBank Group has resumed negotiations with a group of lenders for a $10 billion loan, secured by its stake in OpenAI, according to Reuters.
The move comes after earlier attempts were unsuccessful due to concerns over the valuation of private companies.
To ease lender apprehensions, SoftBank is now offering to guarantee repayment of the loan, giving banks recourse if pledged OpenAI shares lose value.
The move comes after earlier attempts were unsuccessful due to concerns over the valuation of private companies.
To ease lender apprehensions, SoftBank is now offering to guarantee repayment of the loan, giving banks recourse if pledged OpenAI shares lose value.
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