OpenAI · SoftBank · ChatGPT · Crypto Briefing
SoftBank’s record $11.1 billion junk bond sale raises the stakes on Son’s AI bets
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◌ Single Source
The biggest high-yield deal on record funds the final $10 billion of SoftBank's OpenAI commitment at coupons as high as 9.75%.
Key facts
- Proceeds primarily covered the final $10 billion tranche of SoftBank’s $30 billion follow-on investment in OpenAI
- The biggest high-yield deal on record funds the final $10 billion of SoftBank's OpenAI commitment at coupons as high as 9.75%
- Competitively, the $64.6 billion commitment cements SoftBank’s place among the heavyweight backers of AI, alongside players like Amazon and Nvidia
- SoftBank’s shares have fallen 38% since their June 2026 peak
Summary
SoftBank Group borrowed more money in the junk bond market than any company ever has. Where is most of that cash going? Proceeds primarily covered the final $10 billion tranche of SoftBank’s $30 billion follow-on investment in OpenAI. 3.5-year notes: 8.625%.