Apollo Plans to Raise SoftBank Loan to $9 Billion to Support Its OpenAI Investment

September 17 — According to Bloomberg, asset management giant Apollo Global Management is in talks with SoftBank Group to increase a loan to SoftBank from $5.4 billion to $9 billion, to help finance its investment in OpenAI.

The loan is reportedly backed by assets from SoftBank's Vision Fund 2 and is not yet finalized. SoftBank has previously committed $64.6 billion to OpenAI and continues to raise funds through financing for its AI investments.

[TechFlow]