SoftBank Launches Another AI Gamble: Initiates Over $11 Billion High-Yield Bond Issuance, Betting on OpenAI and AI Infrastructure

SoftBank Group, led by billionaire Masayoshi Son, has launched one of the largest corporate junk bond offerings in history, as the Japanese conglomerate taps debt investors to fund its massive artificial intelligence bets. SoftBank, one of the world's largest AI investors, has started marketing the multi-part deal, with price guidance on the dollar portion underway. The group plans to raise more than $11 billion equivalent through the offering, including a $10 billion dollar portion and a 1 billion (about $1.1 billion) euro portion, according to a person familiar with the matter who asked not to be identified discussing private information. The offering is the latest in a string of aggressive moves by SoftBank in the bond market this year, aimed at funding its nearly $65 billion investment commitment to ChatGPT developer OpenAI and more M&A in the sector. The moves put the Japanese investment company at the center of debt-fueled AI wagers, at a time when the technology's promise is captivating global markets even as safety concerns in the industry intensify. SoftBank is not alone in rushing to the market for financing. A recent report by Goldman Sachs Group credit strategists shows that global AI-related bond issuance has exceeded $575 billion in 2026. Son has downplayed market concerns about AI infrastructure investment, saying earlier this year that he expects AI-related industries to account for 20% of global output by 2040, equivalent to $46 trillion. However, the torrent of AI financing in global financial markets has made some bond investors uneasy. They worry that if the technology fails to deliver returns for the companies making the biggest investments, the ballooning debt could leave the market with a hangover.