SoftBank Group launches $11 billion in bonds for OpenAI investment

Key facts

• SoftBank Group Corp. launched $10 billion and 1 billion euro-denominated senior unsecured notes.
• The notes are intended to fund SoftBank's investment in OpenAI.
• SoftBank executed the second $10 billion tranche of its OpenAI follow-on investment on July 1, 2026.
• This second tranche is part of a previously announced $30 billion follow-on investment plan.
• SoftBank's cumulative OpenAI investment is expected to reach $64.6 billion after the full $30 billion follow-on investment is completed.
• This would represent an ownership interest of about 13% in OpenAI.

SoftBank Group Corp. has launched $10 billion and 1 billion euro-denominated senior unsecured notes to fund its investment in OpenAI, according to a term sheet. The company executed the second $10 billion tranche of its OpenAI follow-on investment on July 1, 2026, as part of a previously announced $30 billion plan. SoftBank's cumulative investment in OpenAI is expected to reach $64.6 billion after the full follow-on investment is completed, representing an ownership interest of about 13%. The company is acquiring preferred shares that convert into common shares upon an IPO or related listing transaction. SoftBank announced a $40 billion bridge facility on March 27, 2026, primarily for these OpenAI investments and general corporate purposes, with lenders including JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking Corporation, and MUFG Bank.