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SoftBank Scales Back OpenAI Financing Plan Amid Creditor Pushback

SoftBank Group has reduced a planned margin loan against its OpenAI stake to $6 billion from an initial $10 billion target, according to people familiar with the matter. The reduction reflects hesitation from some lenders to back the financing arrangement. The move comes as SoftBank's Vision Fund recorded a $46 billion gain for the fiscal year, driven largely by the appreciation of its OpenAI holdings. The Japanese conglomerate has committed more than $60 billion to OpenAI, making it one of the company's largest backers. The financing pullback signals growing caution among financial institutions regarding large-scale loans tied to artificial intelligence company valuations, even as SoftBank's stake continues to appreciate.