SoftBank’s $6bn OpenAI margin loan said to face snag, shares drop over 9% • TradingKey (opens in new tab)

Jay Qian: During the Asian session on June 10, sources familiar with the matter revealed that SoftBank Group's negotiations to secure a margin loan of at least $6bn, using its stake in OpenAI as collateral, have failed to make progress. This comes just weeks after the company lowered its initial $10bn target by 40%. SoftBank declined to comment. According to the sources, SoftBank is still considering various financing options and may restart negotiations in the future. The primary reason for ...