“The 12-month term aligns almost perfectly with market speculation about an OpenAI IPO window in late 2026 or early 2027.”
SoftBank borrowed $40 billion from JPMorgan and Goldman Sachs to double down on OpenAI. The loan is unsecured and due in 12 months. That is not an investment thesis. That is a bet that OpenAI goes public before the bill comes due. Masa Son is doing the exact same thing he did with WeWork but with more zeros.