Exclusive-SoftBank renews talks for $10 billion loan against OpenAI stake, adds concessions, sources say

Exclusive-SoftBank renews talks for $10 billion loan against OpenAI stake, adds concessions, sources say July 1 - SoftBank Group has reopened talks with a consortium of lenders for a $10 billion loan backed by its stake in OpenAI, after earlier attempts to secure a loan stalled over concerns about the difficulty of valuing private companies, two people familiar with the matter said. To make lenders more comfortable, the Japanese technology investor is offering to guarantee repayment of the loan, giving banks recourse to SoftBank if the OpenAI shares pledged as collateral lose value, the people said. The lending consortium is expected to include Goldman Sachs, JPMorgan Chase and Mizuho Financial Group, the people said. SoftBank and OpenAI did not respond to requests for comment. Goldman Sachs, JPMorgan and Mizuho declined to comment.