SoftBank Seeks Over $11 Billion in Junk Bonds for OpenAI Bet

SoftBank Group Corp. is pursuing more than $11 billion in junk bond financing to fund its OpenAI investment, according to people familiar with the matter cited by Bloomberg Monday. The offering would rank among the largest high-yield debt deals on record.

The bond sale supports billionaire Masayoshi Son's push to secure a larger stake in OpenAI, the artificial intelligence company behind ChatGPT. SoftBank recently committed $19 billion to a broader OpenAI funding round that valued the AI firm at $157 billion, making it one of the most valuable private technology companies globally.

The financing maneuver underscores SoftBank's aggressive return to large-scale technology bets after years of restructuring following the WeWork debacle and other portfolio setbacks. High-yield debt markets have reopened to speculative-grade issuers in recent months, enabling companies like SoftBank to access cheaper capital despite below-investment-grade ratings.

Junk bond deals exceeding $10 billion remain rare, typically reserved for major acquisitions or transformative corporate moves. The size signals Son's conviction that AI represents a paradigm shift worth massive balance-sheet risk.