SoftBank Group has secured a significant $15 billion loan to amplify its investments in the burgeoning field of artificial intelligence, according to the report from Bloomberg.
This substantial financial backing highlights the Japanese company’s adeptness at obtaining the necessary funding to propel its ambitious technological ventures. Structured as a one-year interim loan facility, the financing is primarily underwritten by Mizuho Bank, Sumitomo Mitsui Banking Corporation (SMBC), and JPMorgan Chase & Co.
A consortium of 21 financial institutions is involved in backing the loan, with Mizuho Bank contributing $1.35 billion, SMBC $1.25 billion, and JPMorgan $1 billion. Furthermore, HSBC Holdings and Barclays have partnered to provide $950 million.
An additional seven banks, including prominent names like Goldman Sachs, Mitsubishi UFJ Financial Group, and Crédit Agricole, have collectively committed $850 million. The intricate specifics of this arrangement are kept confidential, according to sources with knowledge of the proceedings.
