SoftBank to borrow $11B in junk bonds for OpenAI stake

softbank plans to borrow over $11 billion through risky junk bonds to fund its stake in openai. the japanese company had already secured short-term loans of up to $40 billion for openai and now aims to swap them for longer-term debt. openai is expected to burn through nearly $280 billion in cash by the end of 2030. softbank's data center business is also counting on its openai contracts for future revenue. the bond terms are set to be finalized on thursday, with the payment to openai due in october.