SFTBY SoftBank Corp.

🚨 SoftBank CDS hits near three year high as OpenAI exposure draws scrutiny SoftBank’s five year CDS hovered around 383.2 bps, near its highest level since 2023, as traders assessed the group’s growing exposure to OpenAI. SoftBank has committed $64.6 billion to OpenAI, making it one of the group’s largest investments. OpenAI is in early talks for a pre IPO funding round that could value the company above $1.2 trillion. CEO Sam Altman said OpenAI is preparing for an IPO, but does not expect the listing to happen this year. $SFTBY $NVDA $OPEAZZX.P $SPY $QQQ

$SFTBY $OPEAZZX.P SoftBank secures $11.87B loan to support investment in OpenAI, Bloomberg says SoftBank secured an $11.87B loan to support its investment in OpenAI, Janice Huang of Bloomberg reports, citing people familiar with the matter. The company entered the two-year facility last week and attracted commitments from 20 banks, the sources added.

$SFTBY $ARM SoftBank is not really a mysterious Japanese conglomerate. At today's valuations it is essentially: ~¥44T ARM ~¥17–18T OpenAI ~¥1.6T Intel ~¥4T SoftBank Corp. ~¥15T everything else ~¥82T less debt. Lets use 14T as a End Sep estimate ~¥68T And the shares are currently worth only about ¥36T in Tokyo (6,310 × ~5.7B shares) (approx $40. SFTBY = 1/2 a share). The October 2 close was ¥6,310. Yahoo Finance So yes — the NAV discount is real and very large, but the market is also being asked to trust two enormous marks: ARM at ~$328B and OpenAI at ~$852B. 68T assts for 36T seems a very good discount to get exposure to openAI

$SFTBY $ARM Why does Softbank not monetize 20% of its ARM and Intel positions through systematic options strategies and use all net premium proceeds for share repurchases? Seems so obvious.

PickAlpha Morning Report - Company News: 2026.09.24 News - 1/7: SoftBank sells ~$11.1B of bonds ($10B USD senior notes + €1B notes) to fund final $10B OpenAI tranche expected to close Oct. 1; cumulative OpenAI stake ~13% $SFTBY $MSFT $NVDA $QQQ $IGV PickAlpha View: Base case: AI-linked positioning stays supported as capital formation and hardware roadmaps keep attention on platform winners and their ecosystems.

$SFTBY $OPEAZZX.P SoftBank seeks to issue EUR 11B in junk bonds for OpenAI deal, Bloomberg says SoftBank is looking to issue $10B of securities and EUR 1B in debt to fund its OpenAI investment, in what would be one of the biggest junk bond sales yet, Bloomberg's Janice Huang and Harry Suhartono report. SoftBank and its lead banks are sounding out investors on potential pricing for the proposed junk bond offering, with yields that would be records for SoftBank in those specific currencies and tenors if priced at those levels, according to the report. The deal may price on Thursday, sources say.

SoftBank has delayed the planned IPO of SB Energy, its renewable-energy subsidiary, according to The New York Times. SB Energy had been preparing to go public this month and was seeking a valuation of $50 billion or more, but bankers reportedly struggled to secure enough investors at the price range targeted by the company and its advisers. The postponement comes as investor and community concerns grow around the rapid expansion of energy-intensive data centers. SB Energy has proposed developing a massive data-center project in Ohio, positioning the company to benefit from rising electricity demand tied to artificial intelligence. However, growing resistance to large data-center developments, particularly because of their power consumption and impact on local communities, has added uncertainty to the sector. $SFTBY

$SFTBY SoftBank directly and indirectly controls approximately 11% to 13% of OpenAI. Completed Holdings: SoftBank's core $40B–$41B capital injection (executed through Vision Fund 2 alongside syndicated co-investors) secures an 11% stake. Follow-On Tranches: Following additional follow-on agreements inked in early 2026 for a staged $30 billion commitment, SoftBank's total cumulative ownership target expands to ~13% upon full tranche funding.