SoftBank Cuts Target for OpenAI Margin Loan by 40% to $6 Billion

SoftBank Group Corp. has downsized plans for a $10 billion margin loan backed by its OpenAI stake after facing hesitation from some creditors, people familiar with the matter said.

In separate discussions with potential lenders in recent weeks, the Japanese conglomerate and bankers helping it seek the loan have mentioned targeting an amount as low as $6 billion, according to the people, who asked not to be identified discussing private matters. Discussions are ongoing and details including the eventual size of any borrowing could change, the people said.