According to people familiar with the matter, Apollo Global Management has expanded the loan size provided to the SoftBank Group to 9.2 billion US dollars. The move provided the Japanese investment giant with more funding to support its increased investment in ChatGPT developer OpenAI. The financing was secured by the assets of “Vision Fund No. 2”. Prior to this increase in the amount, it was already the largest so-called “net asset value loan” in the world. The loan was initially offered in 2021 and grew to $5.4 billion last year. People familiar with the matter said Apollo led the financing and brought in a number of banks including J.P. Morgan Chase, Sumitomo Mitsui Bank, Goldman Sachs Group, and Barclays Bank to help complete the transaction. These people familiar with the matter requested anonymity in order to discuss confidential information.

According to people familiar with the matter, Apollo Global Management has expanded the loan size provided to the SoftBank Group to 9.2 billion US dollars. The move provided the Japanese investment giant with more funding to support its increased investment in ChatGPT developer OpenAI. The financing was secured by the assets of “Vision Fund No. 2”. Prior to this increase in the amount, it was already the largest so-called “net asset value loan” in the world. The loan was initially offered in 2021 and grew to $5.4 billion last year. People familiar with the matter said Apollo led the financing and brought in a number of banks including J.P. Morgan Chase, Sumitomo Mitsui Bank, Goldman Sachs Group, and Barclays Bank to help complete the transaction. These people familiar with the matter requested anonymity in order to discuss confidential information.