SoftBank now personally guarantees a $10 billion loan against its stake in OpenAI.
The shift follows an OpenAI IPO delay that cut SoftBank’s shares by 13%.
It marks the third revision to this loan’s terms since discussions began in April.
SoftBank Group is back in talks with a group of lenders for a $10 billion loan backed by its OpenAI stake, this time adding a corporate guarantee. Reuters reports that SoftBank will cover repayment if the OpenAI shares end up being worth less than expected.
At first, lenders could claim the OpenAI shares only if things went wrong, and SoftBank would not have to repay if the shares were insufficient. These slowed-down talks. The new group of lenders is likely to include Goldman Sachs, JPMorgan Chase, and Mizuho Financial Group.
