# SoftBank Is Using Its OpenAI Stake as an ATM — and That Should Worry You

- slug: softbank-is-using-its-openai-stake-as-an-atm-and-that-should-worry-you
- date: 2026-04-23
- category: Artificial Intelligence

Instead of selling its OpenAI shares and booking gains, SoftBank is borrowing $10B against them. The same move Masayoshi Son made during Japan’s bubble era — and the same risk if OpenAI’s IPO misfires.

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