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SoftBank’s $6 Billion OpenAI Margin Loan Stalls Over Collateral Valuation Issues

$6 billion OpenAI margin loan

SoftBank Group Corp. is facing delays in finalizing a $6 billion OpenAI margin loan as potential lenders question how to value the private artificial intelligence company. Masayoshi Son’s investment firm recently reduced its borrowing goal from $10 billion to the current $6 billion target. The firm intended to use its equity in OpenAI as collateral to generate cash for new technology investments. This pause in negotiations illustrates the difficulty of using private AI shares to secure traditional bank financing.

The main difficulty for the $6 billion OpenAI margin loan stems from the absence of a public trading price for the startup. Because OpenAI is not a public company, banks cannot easily determine a consistent market value for the shares held by SoftBank. Creditors are also weighing risks related to high competition and changing regulations in the generative AI field. Before the current slowdown in talks, SoftBank had gathered roughly $5 billion in non-binding interest from several financial institutions.

Valuation Challenges in Private AI Markets

The delay in the $6 billion OpenAI margin loan highlights a trend where lenders are increasingly cautious about illiquid assets. Banks typically prefer collateral that can be sold quickly on a public exchange. SoftBank frequently uses its existing portfolio to fund new ventures without selling its underlying positions. As of June 10, 2026, the company is investigating other ways to raise capital to support its artificial intelligence expansion plans.

SoftBank may restart the loan process if market conditions change or if a clearer valuation for OpenAI emerges. The company remains a major investor in the AI sector and requires significant capital to maintain its current portfolio and start new projects. These negotiations are a test case for how other large firms might use private AI equity for liquidity in the future.

The current situation shows the difference between the high funding needs of AI developers and the conservative standards of traditional banks. SoftBank is continuing its long-term strategy for artificial intelligence while managing the immediate hurdles of financing in a changing market. The company’s next step involves either presenting a new financing structure or finding different capital sources to meet its 2026 goals.

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