Microsoft-backed (MSFT) OpenAI is set to receive additional funding from SoftBank, which is seeking to raise more than $11 billion through dollar- and euro-denominated junk bonds, Bloomberg reported Monday, citing unnamed people familiar with the matter.
SoftBank plans to issue $10 billion in dollar bonds and 1 billion euros ($1.15 billion) in euro notes, with part of the proceeds expected to fund its follow-on OpenAI investment, the report said.
Apollo Global Management (APO) is in talks to raise its loan to SoftBank by $3.6 billion to $9 billion, as SoftBank ramps up debt financing for its nearly $65 billion OpenAI commitment, Bloomberg added.
OpenAI, Apollo Global Management and SoftBank did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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