Apollo mulls raising SoftBank loan to 9 billion for OpenAI bets

SoftBank CEO Masayoshi Son (left) and OpenAI CEO Sam Altman attend an event in Tokyo in February 2025. Apollo Global Management is in talks with SoftBank Group about boosting the size of a loan to $9 billion from $5.4 billion to help the Japanese firm finance its investment in AI giant OpenAI. The size of the financing, which is backed by assets in SoftBank's Vision Fund 2, hasn't been finalized, the people said, requesting not to be identified because the discussions are private. Representatives for Apollo and SoftBank declined to comment. Apollo made the so-called net-asset-value (NAV) loan to SoftBank's venture capital fund in 2021 and boosted it by $900 million last year to $5.4 billion.