OpenAI / SoftBank $30B Raise Spooks Credit Markets
Reports that OpenAI is rushing to raise $30B at a $1.4T valuation from SoftBank and MGX sent SoftBank CDS to a 4-year high, as investors simultaneously race to buy CDS protection on AI-linked companies more broadly.
What we know
An account on X reports SoftBank CDS spiked 12bps overnight to 432 — a new 4-year high — following news that OpenAI is rushing to raise $30B at a $1.4T valuation from SoftBank and MGX. This correlates with broader credit market anxiety: Another account on X highlights FT coverage of investors racing to buy CDS on AI-linked companies, with costs hitting record highs. Separately, another account on X flags that OpenAI has reportedly pulled back from supporting AI chip export controls, seemingly to appease Nvidia — with critics saying this is simultaneously bad for US AI dominance and national security.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.