How does SoftBank's $40-billion loan hint that OpenAI's IPO is coming in 2026?

SoftBank secured $40-billion loan to fund its $30-billion investment in OpenAI as part of the AI company's $110-billion raise. The loan is unsecured with a 12-month term, meaning lenders have no collateral to fall back on if SoftBank defaults, showing high confidence in repayment. The short repayment window is seen as strong signal that OpenAI IPO could happen this year.