SoftBank takes a $10B margin loan against its OpenAI stake

SoftBank secured a $10 billion margin loan collateralized by its stake in OpenAI, another financing step in Masayoshi Son's AI bet. The company has invested an additional $20 billion in OpenAI and plans more this fiscal year. Borrowing against a private, illiquid AI holding at scale is a new wrinkle in how the buildout is being funded. SoftBank reported an 18% drop in fiscal first-quarter profit to 347.3 billion yen ($2.2 billion) as costs offset investment gains, with the stock down 4% in Tokyo.

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