[Apollo Plans to Increase SoftBank Loan to $9 Billion to Support Its Investment in OpenAI] According to a report by Jinse Finance, on September 17, Apollo Global Management is in discussions with SoftBank Group to increase a loan from $5.4 billion to $9 billion to help the Japanese company boost its investment in AI giant OpenAI. Sources familiar with the matter stated that the financing is secured by assets from SoftBank Vision Fund II, and the final scale has not yet been determined. Apollo issued a so-called net asset value (NAV) loan to this venture capital fund under SoftBank in 2021 and increased it by $900 million to $5.4 billion last year. NAV loans are secured by fund assets and provide private equity firms with a way to raise cash. SoftBank has become one of the world's largest investors in artificial intelligence, and its various borrowings have drawn significant attention as they fund this push. As concerns over AI safety issues intensify in the market, the company's debt credit default swaps rose to a three-year high this week. (Jin10)