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March 1 (Reuters) - SoftBank Group 9984.T CEO Masayoshi Son plans to borrow $16 billion to invest in AI, the company's executives told banks last week, The Information tech news website reported on Saturday, citing people familiar with the matter.
The Japanese technology investor might borrow another $8 billion in early 2026, the report added.
Reuters reported in January that SoftBank is in talks to invest up to $25 billion in ChatGPT owner OpenAI, as the Japanese conglomerate continues to expand into the sector.
SoftBank's investment would be on top of the $15 billion it has already committed to Stargate, Reuters reported citing a person familiar with the matter.
The Information previously reported that SoftBank was planning to invest a total $40 billion into Stargate and OpenAI and had begun talks to borrow up to $18.5 billion in financing, backed by its publicly-listed assets.
Stargate is a joint venture by Oracle ORCL.N, OpenAI and SoftBank, that plans to invest up to $500 billion to help the United States stay ahead of China and other rivals in the global AI race.
The venture was announced by U.S. President Donald Trump, SoftBank's Son, OpenAI CEO Sam Altman and Oracle Chairman Larry Ellison at the White House in January.
(Reporting by Anusha Shah in Bengaluru, Editing by William Maclean)
((AnushaDevang.Shah@thomsonreuters.com;))
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