By Kashmira Konduparty
Japanese investment giant SoftBank Group has reportedly hit a roadblock in its efforts to secure a $6 billion margin loan backed by its stake in OpenAI. Bloomberg News reported that discussions with potential lenders have stalled, raising questions about investor appetite for loans tied to privately held AI companies.
SoftBank had been seeking at least $6 billion through a margin loan using its OpenAI stake as collateral. According to Bloomberg, talks with prospective creditors have not progressed as expected, prompting the company to consider alternative fundraising options. The report noted that SoftBank could still revive the loan plan at a later stage.
READ: Nvidia, Amazon, SoftBank invest in OpenAI’s $110 billion funding round (February 27, 2026)
The stalled effort follows earlier reports that SoftBank originally sought a margin loan worth as much as $10 billion. In May, Bloomberg reported that the company reduced the target to around $6 billion after some lenders expressed hesitation. One concern was determining the value of OpenAI, which remains privately held and does not trade on public markets.
A margin loan allows an investor to borrow money using assets, such as stock holdings, as collateral. For SoftBank, the financing would have provided additional capital as it expands its investments in artificial intelligence. The company has made OpenAI a centerpiece of its AI strategy under founder and CEO Masayoshi Son.
SoftBank has invested heavily in OpenAI over the past two years. The company previously committed billions of dollars to OpenAI and partnered with the AI developer on Stargate, a major U.S. AI infrastructure initiative.
READ: SoftBank acquires ABB’s robotics unit for over $5 billion (October 8, 2025)
Lenders have reportedly been cautious about accepting shares in a private company as collateral. Unlike publicly traded stocks, private-company valuations can be more difficult to verify and may fluctuate significantly between funding rounds. The uncertainty surrounding future liquidity events, including a potential IPO, has added to lender scrutiny.
The development comes amid unprecedented spending on AI infrastructure, chips and data centers. Technology firms and investors worldwide have committed hundreds of billions of dollars toward AI-related projects. SoftBank has positioned itself as one of the most aggressive investors seeking to capitalize on the AI boom.
SoftBank is reportedly exploring other ways to raise capital and could revisit the proposal in the future.