SoftBank secures $11.87 billion loan to fund OpenAI investment

SoftBank has secured an $11.87 billion, two-year loan to fund its investment in OpenAI, above its earlier $10 billion target. Around 20 banks committed to the financing as concerns grow over the risks and pace of AI development. SoftBank shares fell 13% on Monday, the most since July 17. Latest borrowing adds to SoftBank's debt tied to OpenAI.