SoftBank reportedly slashes OpenAI-backed loan from $10 billion to $6 billion as lenders balk at private AI valuations

SoftBank has scaled back a planned loan backed by its OpenAI shares from $10 billion to up to $6 billion. Sources told Bloomberg News that some lenders got cold feet because they're not comfortable putting a reliable price tag on a private company like OpenAI. The final number could still shift as talks continue. OpenAI is rumored to be eyeing an IPO later this year.

The deal is structured as a margin loan: SoftBank would put up its OpenAI stake as collateral to borrow against. The loan would run for two years, with an option to extend for a third. Neither SoftBank nor OpenAI responded to requests for comment, Reuters reports. SoftBank first invested in OpenAI back in September 2024 and took out a $40 billion bridge loan in March 2026 to fund additional OpenAI investments and cover general corporate expenses. The two companies are also partners in Stargate, the massive US AI infrastructure project.