Lates News

SoftBank Group credit default swaps hover near a three-year high as traders assess the potential impact of its financing plans for OpenAI, one of SoftBank's biggest bets. According to data provider CMA, five-year CDS quotes were around 383.2 basis points, close to the highest level since 2023. SoftBank has committed to investing $64.6 billion in OpenAI. The ChatGPT developer is in early talks with investors for a new funding round ahead of an initial public offering, at a valuation of more than $1.2 trillion. OpenAI CEO Sam Altman previously said the company's long-awaited IPO is still in the works but will not happen this year.