SoftBank Promises $64.6B Investment, CDS Spreads at 383.2bp

SoftBank Group revealed that its cumulative investment in OpenAI could reach $6.46 billion (approximately 87 trillion 8560 billion won) upon completion of additional investment procedures. The company stated it would hold approximately a 13% stake in OpenAI after standard closing conditions are met and the additional investment is finalized. PANews reported that SoftBank Group's five-year credit default swap (CDS) quotes stood at 383.2 basis points, citing data provider CMA. This figure approaches the highest level seen since 2023. PANews also noted that OpenAI is discussing new fundraising to target a valuation exceeding $120 billion ahead of an IPO, though CEO Sam Altman stated the company will not pursue an IPO this year.