TL;DR
SoftBank must assemble $22.5 billion by the end of the year to satisfy funding commitments to OpenAI's Stargate datacenter project, Reuters reports. The firm could tap margin loans on Arm, its T‑Mobile stake, and cash reserves, while CEO Masayoshi Son is personally reviewing large funding decisions.
What happened
Japanese investor SoftBank faces a year-end deadline to come up with roughly $22.5 billion tied to its financing commitments for OpenAI, according to a Reuters report summarized by the source. That sum is linked to SoftBank's role as one of the principal backers of OpenAI's multi-hundred‑billion‑dollar Stargate datacenter initiative, announced alongside partners including Oracle and Abu Dhabi's MGX. Reuters says SoftBank has several possible avenues to raise the money: using margin loans secured against its Arm Holdings stake, drawing on a roughly 4% position in T‑Mobile, or deploying available cash balances. The company has already monetized its Nvidia holding to support the venture, and OpenAI’s transition to a for‑profit structure in October unlocked part of SoftBank’s obligation. With the Stargate flagship facility in Abilene, Texas now partially operational, partners such as Oracle are expected to seek payment for infrastructure services as deployments advance.
Why it matters
- A shortfall could affect OpenAI’s ability to tap committed infrastructure funding tied to the Stargate program.
- SoftBank’s options to raise cash — margin loans or selling stakes — could have implications for holdings like Arm and T‑Mobile.
- Timely funding matters as datacenter partners (notably Oracle) begin to bring facilities online and will expect payments.
- The situation highlights governance scrutiny at SoftBank, with CEO Masayoshi Son reviewing large funding outlays personally.
Key facts
- SoftBank needs about $22.5 billion before year‑end to meet an OpenAI‑linked funding commitment (per Reuters).
- The planned financing supports OpenAI’s Stargate datacenter initiative, a program described as involving up to $500 billion in investments.
- Stargate was announced nearly a year earlier with partners including Oracle and Abu Dhabi’s MGX.
- One potential lever is borrowing roughly $11.5 billion against SoftBank’s stake in Arm via margin loans (reported by Reuters).
- SoftBank holds about a 4% stake in T‑Mobile valued at roughly $11 billion, another possible source of funds.
- As of the end of September, SoftBank had about $27 billion in cash available, according to the report.
- SoftBank previously sold its Nvidia stake to help fund the venture.
- OpenAI’s October move to a for‑profit structure removed a condition tied to some of SoftBank’s investment obligations.
- The Stargate flagship datacenter in Abilene, Texas became partially operational earlier in the year.
- CEO Masayoshi Son is reportedly personally reviewing any SoftBank funding decisions above $50 million.
What to watch next
- Whether SoftBank will draw margin loans against its Arm stake to raise the reported ~$11.5 billion (not confirmed in the source).
- Whether SoftBank will monetize or otherwise tap its roughly 4% T‑Mobile holding to help cover the $22.5 billion (not confirmed in the source).
- Whether SoftBank will use its cash reserves to meet the deadline and how quickly Oracle and other partners will bill OpenAI as Stargate facilities come online (not confirmed in the source).
Quick glossary
- Margin loan: A loan secured against holdings such as stock; borrowers can access capital using those assets as collateral.
- Stake: An ownership percentage in a company, often measured by shares held.
- Datacenter: A specialized facility housing servers, storage and networking gear to run and store large-scale computing workloads.
- Stargate (as used in source): OpenAI’s multibillion‑dollar initiative to build GPU‑rich datacenters with partner financing to support large AI model development.
Reader FAQ
How much does SoftBank need to raise and by when?
About $22.5 billion, reportedly needed before the end of the year.
Why does SoftBank need the money?
To satisfy its funding commitments tied to OpenAI’s Stargate datacenter program, per the Reuters report.
Has SoftBank confirmed how it will raise the funds?
not confirmed in the source.
Will Oracle stop work or withhold services if payment is delayed?
not confirmed in the source.
AI + ML 19 SoftBank scrambling to come up with $22.5B in OpenAI funding before New Year Masayoshi Son better hope he made Santa's nice list Tobias Mann Mon 22 Dec 2025 //…
Sources
- SoftBank scrambling to come up with $22.5B in OpenAI funding before New Year
- Exclusive: SoftBank races to fulfill $22.5 billion funding …
- SoftBank Races to Meet $22.5B OpenAI Funding Deadline
- SoftBank races to complete $22.5B funding to OpenAI, …
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