SoftBank taps $11bn bond market to bankroll OpenAI stake

SoftBank Group has launched a bond sale worth over $11 billion, marking one of the largest high-yield debt issuances by a single company in recent memory as the firm seeks to raise capital for its investment in OpenAI, the artificial intelligence company behind ChatGPT.

The transaction is expected to rank among the most significant junk bond sales globally, excluding distressed debt exchanges and restructurings. The scale of the offering underscores SoftBank's commitment to securing a strategic position in the rapidly expanding AI sector, which has become central to the technology industry's growth trajectory.

SoftBank, led by billionaire Masayoshi Son, has emerged as one of the most aggressive investors in artificial intelligence ventures over the past two years. The bond sale demonstrates the company's confidence in its ability to service debt while maintaining its investment agenda across technology and telecommunications sectors.

The offering comes as SoftBank continues to navigate global macroeconomic conditions and interest rate environments. Proceeds from the bond sale will primarily support the company's investment commitments, with OpenAI representing a significant component of the conglomerate's AI-focused portfolio expansion.

The deal reflects growing investor appetite for funding mechanisms that enable major technology companies to pursue high-stakes bets on transformative technologies, even as market volatility persists across global capital markets.