SoftBank seeks loan against OpenAI shares, banks decline

SoftBank seeks loan against OpenAI shares, banks decline SoftBank recently approached banks to secure a $6 billion loan, offering its 13% stake in OpenAI as collateral. The banks rejected SoftBank’s request, expressing doubts about OpenAI’s $852 billion valuation. No further details on the negotiations or the companies’ responses have been disclosed. 📰 @aipost