SoftBank Slashes OpenAI-Backed Margin Loan Target to $6 Billion

Key Facts

SoftBank Group has reduced its target for a margin loan backed by its 13% stake in OpenAI to $6 billion, down from an initial $10 billion. The downsizing comes as lenders question the reliability of OpenAI’s $852 billion post-money valuation, set in March 2026, as collateral. Skepticism is mounting following reports that OpenAI missed internal revenue and weekly active user targets earlier this year. Furthermore, the secondary market for OpenAI shares is seeing sellers outnumber buyers as investor interest shifts toward rival Anthropic. These factors have prompted financial institutions to adopt a more cautious stance toward AI-linked leverage. SoftBank continues to navigate these valuation headwinds while managing its liquidity and strategic exposure to the sector.

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