Bloomberg reports that SoftBank has sealed an $11.87 billion two-year loan facility with around 20 banks to fund its investment in OpenAI, well above the roughly $10 billion it originally sought. The Japan Times notes the deal sits alongside a wave of other borrowing tied to the same bet: a $10 billion margin loan backed by SoftBank's OpenAI stake and a potential bond sale of up to $20 billion. Separately, SoftBank said it will pay down the $25.9 billion still outstanding on the $40 billion loan it arranged earlier this year, with repayment set for September 15. The headline here is not the size but the appetite: lenders are still willing to underwrite a single private AI position at this scale. Watch whether the bond sale lands on similar terms.