SoftBank Seeks Over $11 Billion in Junk Bond Deal for OpenAI Bet

SoftBank Group Corp. is seeking more than $11 billion in a junk bond deal, marking one of the largest issuances of its kind. This financial move, led by Masayoshi Son, aims to ramp up investments in OpenAI, the creator of ChatGPT. Term sheets indicate the bond launch exceeds $10 billion, reflecting a high-stakes bet on AI. This massive issuance underscores the conglomerate's commitment to the sector while highlighting the associated financial risks and potential rewards.