PYMNTS.com April 1, 2025
SoftBank is reportedly seeking up to $16.5 in financing for the so-called “Stargate” AI project.
This bridge loan would be the Japanese conglomerate’s largest ever facility denominated in dollars, Bloomberg News reported Tuesday (April 1), citing sources familiar with the matter.
The report notes that SoftBank is looking for financing as it tries to launch a $500 billion artificial intelligence (AI) infrastructure effort in the U.S., as well as robotics and semiconductor projects.
While the company is working with OpenAI, Oracle and Dubai’s MGX on the Stargate project, SoftBank is the primary financier. Announced by President Donald Trump in January, Stargate aims to build big AI-focused data centers in the U.S., with the first of these centers — a 500,000-square-foot...
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