SoftBank Pursues $10 Billion Margin Loan Collateralized by OpenAI Shares

TLDR

• SoftBank is looking to secure a $10 billion loan with its OpenAI shares serving as collateral
• The loan would have a two-year duration, plus an option to extend it for an additional year
• This comes on the heels of a separate $40 billion bridge loan that SoftBank obtained in March
• Additional banks were invited to participate in the earlier $40 billion funding round
• SoftBank’s shares climbed 6% on Thursday after the news broke

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(SeaPRwire) –   Per a Bloomberg News report released Wednesday, SoftBank Group is pursuing a $10 billion margin loan, with its OpenAI stake acting as collateral.

EXCLUSIVE: SoftBank is looking to secure a $10 billion loan using OpenAI shares as collateral, taking on more debt to support its AI initiatives https://t.co/Y2ndaxpeAB

— Bloomberg (@business) April 23, 2026

The loan being proposed would use SoftBank’s OpenAI shares as collateral. A margin loan allows a company to borrow money against assets it already owns—here, a stake in one of the world’s most discussed AI firms.

The loan would have a two-year term, with an option to extend it by another year. Bloomberg referenced individuals with knowledge of the situation, and SoftBank chose not to comment on the report.

SoftBank’s shares increased by 6% on the Tokyo Stock Exchange Thursday, roughly matching the broader market’s gains that day.

SoftBank’s Growing Debt Stack

This newest proposal isn’t the first instance of SoftBank turning to debt markets to finance its OpenAI holdings.

In March, SoftBank announced it had secured a $40 billion unsecured bridge loan to fund its OpenAI investment and cover associated costs.

Shortly afterward, more banks were invited to take part in that financing—something Bloomberg called a “soft launch”—due to the large number of lenders required to back the deal.

The proposed $10 billion margin loan would be in addition to that earlier facility, providing SoftBank with an extra source of funds.

Masayoshi Son, founder of SoftBank, has made artificial intelligence the centerpiece of the company’s current strategy. The group has already invested tens of billions of dollars in OpenAI via its Vision Fund.

What the Loan Structure Means

Using OpenAI shares as collateral is a rare step, as OpenAI is a private entity. Its shares aren’t traded publicly, making their valuation more complicated than that of listed stocks.

This structure indicates that lenders view exposure to major private AI companies as acceptable collateral, at least for deals of this size right now.

The Bloomberg report didn’t reveal any pricing details, specific lenders, or final terms. Talks are said to be ongoing, and terms may still be adjusted.

The two-year term, combined with the extension option, offers SoftBank some flexibility in terms of when it repays the loan.

If finalized, this loan would be the latest in a series of major debt-supported actions SoftBank has taken to keep and expand its stake in OpenAI.

SoftBank hasn’t confirmed the deal or shared any extra details beyond refusing to comment when contacted by Bloomberg.