SoftBank
What SoftBank is up to now
All-in and cross-collateralized: the $40B OpenAI-stake loan (21 lenders and counting), the 10GW Ohio Stargate campus Nvidia may backstop, Arm's 87.1% pledged against loans ($5B sought + a $20B margin loan, Dec-25 deadline unresolved), $2B into Intel, a renewed $10B OpenAI-collateral facility. Son has converted the empire into one correlated bet that AI credit stays open — every asset now secures another. The pieces live in four threads; softbank-all-in tracks the concentration itself.
as of 2026-07-28
Held by
Masayoshi Son
Pocket
Capital
Carries the $40B OpenAI bridge loan; the largest single lever into the stack. House Son the obvious next dynast.
The metrics
- Posture high
- expanding 2 src →
- Capital · available high
- own cash+STI ¥5.36T (~$36B, Mar-2026) — levered against ¥25.4T (~$169B) total debt; plus undrawn Vision Fund commitments 1 src →
- Capital · operating high
- revenue ¥7.80T (~$52B) TTM — mostly Arm + telecom operating businesses, not fund fees; net income ¥4.98T (~$33B) TTM 1 src →
- Capital · deployed high
- directs ~$150-160B — Vision Fund 1 ~$100B raised / ~$134B AUM (Jun-2023) + VF2 ~$30B + ~$40B OpenAI + owns 87.1% of Arm 2 src →
- Capital · in high
- new commitments — leading OpenAI ~$40B round (2025) + $19B Stargate; VF1 external LPs PIF $45B / Mubadala $15B / Apple (2017); VF2 largely self-funded 2 src →
- Capital · out med
- deployments — ~$40B OpenAI + Stargate build; historical VF deployment collapsed to ~$300M/qtr (Q4-2022) then re-accelerated into AI; recurring large buybacks 2 src →
- Optionality high
- free but LEVERED — Son ~71.36% voting control deploys at will, but ¥25.4T (~$169B) debt + ~1/3 of Son's personal stake pledged constrain the pile. 2 src →
- Gravity med
- REAL GROSS (not thin) — Arm underpins the world's mobile silicon + ~60 Vision Fund portfolio companies + Stargate/OpenAI anchoring; the largest single lever into the stack. 1 src →
This week — what changed
- SoftBank's $40B OpenAI loan added 21 lenders (Standard Chartered, GIC named) — expanding, NOT confirmed closed. (Bloomberg)
- Nvidia in talks to backstop up to $500B for a 10GW Ohio megasite (SB Energy/SoftBank; largest single-site figure on the map). The weekend's figure tangle resolves as THREE numbers: $250B guarantee · $500B total project · $350B separate chip-financing. Microsoft, Google, Anthropic are interested tenants, not backers — "Microsoft-backed" headlines overclaim. (CNBC)
Projects & threads
·
Stargate
coalition
↳ Datacenter Sites
— developing · last seen 2026-07-28
· 6 entries
·
OpenAI IPO
financing
↳ Lab IPO Wave
— developing · last seen 2026-07-21
· 4 entries
◉
Datacenter Sites
buildout race
↳ Where the Capex Lands
— open · last seen 2026-07-28
· 4 entries
◉
Lab IPO Wave
financing
— open · last seen 2026-07-26
· 1 entries
·
Arm Royalty Regime
authority claim
— open · last seen 2026-07-28
· 1 entries
·
Son All-In
hedge
— open · last seen 2026-07-27
· 1 entries
Full item history for SoftBank →
Vocabulary