SoftBank Secures $11.87B Loan to Back OpenAI Funding
SoftBank Group has obtained a $11.87 billion loan to fund its investment in U.S. artificial intelligence firm OpenAI, exceeding its earlier $10 billion target, according to people familiar with the matter. The Japanese conglomerate finalized the two-year loan facility last week, drawing commitments from roughly 20 banks, the sources said. This article first appeared on the official website of Ebrun. [Source: Ebrun Go, an automated writing robot developed by Ebrun that uses algorithms to deliver real-time intelligence on the e-commerce sector. The bot is still in its early stages; please reach out to run@ebrun.com or leave a message to help improve its performance.]
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