SoftBank cuts OpenAI-backed loan target to $6B as lenders balk at valuation

SoftBank has cut a planned OpenAI?backed margin loan from around $10 billion to roughly $6 billion after banks and private credit funds pushed back on the deal’s structure and the difficulty of valuing OpenAI, an unlisted AI unicorn. SoftBank Group is scaling back an ambitious financing plan that would have raised around $10 billion using its OpenAI shares as collateral, after lenders balked at both the structure of the margin loan and the private valuation underpinning the deal. According to Bloomberg, cited by Reuters and other outlets, SoftBank and its arranging banks have floated a reduced target “as low as…