BREAKING: SoftBank is set to raise more than $11 billion, in what will be one of the biggest junk bond deals ever, to fund a follow-on investment in OpenAI, per Bloomberg. As part of its funding campaign this year, SoftBank has sold ~$15 billion worth of notes, making it the biggest junk-rated borrower in bond markets so far in 2026. We are seeing unprecedented debt market activity to fund AI.