SoftBank races to complete $22.5B funding to OpenAI, Reuters says

SoftBank (SFBTY) is racing to complete its $22.5B funding commitment to Microsoft-backed (MSFT) OpenAI by the end of the year, Echo Wang, Miho Uranaka and Krystal Hu of Reuters reports, citing sources with knowledge of the matter. The company plans to raise money by selling some of its investments and may tap into its undrawn margin loans borrowed against its ownership in Arm Holdings (ARM). SoftBank has already sold its entire $5.8B stake in Nvidia (NVDA), offloaded $4.8B of its T-Mobile (TMUS) stake, and cut staff in order to raise money for its funding.