Mizuho Financial Group (MFG) unit Mizuho Bank, JPMorgan Chase (JPM), and Sumitomo Mitsui Banking are serving as lead underwriters for a one-year, $15 billion bridge loan to SoftBank Group focused on AI investments, Bloomberg reported Wednesday, citing sources familiar with the matter.
The loan will be financed by 21 banks and includes $1.35 billion from Mizuho, $1.25 billion from Sumitomo Mitsui, and $1 billion from JPMorgan, the report said.
Proceeds from the loan will be used for investments in artificial intelligence, including the $6.5 billion acquisition of semiconductor firm Ampere Computing and as much as $30 million into OpenAI, Bloomberg reported, citing SoftBank CFO Yoshimitsu Goto.
SoftBank, Mizuho, JPMorgan, and Sumitomo Mitsui did not immediately reply to requests for comment from MT Newswires.
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