SoftBank reportedly slashes OpenAI-backed loan from $10 billion to $6 billion as lenders balk at private AI valuations

THE DECODER / 5/9/2026

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Key Points

  • SoftBank has reportedly cut the size of a loan backed by OpenAI-related shares from about $10 billion to around $6 billion.
  • Lenders appear hesitant to appraise the value of OpenAI because it is a private, unlisted company.
  • The move suggests uncertainty around private AI valuations is affecting how financial institutions structure and underwrite AI-linked credit.
  • The situation highlights valuation risk as a practical constraint in financing arrangements tied to high-growth, non-public AI firms.

SoftBank has reduced a loan secured by OpenAI shares from 10 to around 6 billion dollars. Lenders are apparently reluctant to reliably assess the value of an unlisted company like OpenAI.

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