SoftBank Revives $10 Billion Loan Deal Against OpenAI Stock with Personal Corporate Guarantee

SoftBank resumed negotiations in early July 2026 for a $10 billion loan, offering banks a personal corporate guarantee on top of already pledged OpenAI shares — a new incentive for creditors dissatisfied with previous terms, according to Reuters.

What's included in the updated offer

The basic structure of the loan hasn't changed: SoftBank wants to attract $10 billion by pledging its stake in OpenAI. The key change is a personal corporate guarantee added by the company. If the value of OpenAI shares at the moment of fulfilling obligations proves insufficient, banks have the right to demand repayment directly from SoftBank as a legal entity.

In standard pledge lending schemes, liability is limited to the asset itself: collateral depreciates — the bank bears the loss. A personal guarantee changes the risk calculation: banks are insured by SoftBank's balance sheet, not just the market value of this specific share package.

• Loan amount: $10 billion
• Collateral: SoftBank's stake in OpenAI
• New element: personal corporate guarantee from SoftBank
• Data source: Reuters citing negotiation participants
• Current status: negotiations ongoing, deal not closed

Why the previous offer didn't work

OpenAI shares are a non-standard asset. The company remains private, its papers don't trade on an open market, and valuation depends entirely on closed funding rounds. For lending banks, this represents specific risk: if the next round values OpenAI lower than current levels or market sentiment worsens, collateral may not cover the debt.

The initial version — just shares as security — precisely for this reason found no support. Adding a corporate guarantee reduces this uncertainty: banks get two-level protection. If the OpenAI position falls, they can pursue recourse against SoftBank — a company with a diversified portfolio of technology investments.

"The concession gives banks the right of recourse to

SoftBank itself if pledged OpenAI shares prove insufficient," — Reuters explains.

Why SoftBank needs this credit

SoftBank has long bet on AI and holds a significant position in OpenAI. A $10 billion loan would give the company liquidity without needing to sell one of its key strategic assets.

The scheme "loan against a stake in a private AI company" is becoming an established financial practice: valuations of such companies have reached levels where their shares work as full-fledged collateral — provided reliable guarantees exist. SoftBank's willingness to personally vouch for $10 billion speaks to high confidence in the long-term value of the asset.

What it means

SoftBank's willingness to stake its personal guarantee is an indicator of both the strategic importance of OpenAI for the company and the maturity of the AI investment market. Top-tier AI assets are integrating into traditional financial infrastructure: multi-level credit structures are being built around them, pledged in deals with leading banks. This signals that first-tier AI companies are perceived by the market as full-fledged financial instruments.