SoftBank Seeks Record Loan of Up to $40 Billion for OpenAI Stake

SoftBank Group Corp. is seeking a loan of as much as $40 billion to mostly help finance its investment in US tech giant OpenAI, according to people familiar with the matter, in what would be its largest-ever borrowing denominated solely in dollars.

The bridge loan would have a tenor of about 12 months, according to some of the people, who asked not to be identified discussing private matters. Four lenders, including JPMorgan Chase & Co., will be underwriting the facility, the people said.

Talks with banks are ongoing and details could change, the people added. Spokespeople for JPMorgan ...