SoftBank has downsized plans for a $10B margin loan backed by its OpenAI stake after hesitation from some creditors, Bloomberg’s Kari Soo Lindberg, Laura Benitez, and Apple Ka Ying Li report, citing people familiar with the matter. Softbank and bankers have mentioned in discussions plans to revise the target to an amount as low as $6B, the report says, adding that the group’s initial pitch had investors concerned about the difficulty of reaching a valuation for an unlisted company like ChatGPT maker OpenAI.
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