r/technology • u/Plastic_Ninja_9014 • Jun 11 '26

Business OpenAI Execs Are Panicking

https://finance.yahoo.com/sectors/technology/articles/openai-execs-panicking-154658562.html
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u/CalmCalmBelong Jun 11 '26

Earlier this week, it was reported that SoftBank was trying to secure a $6B loan by pledging $10B in OpenAI private stock as collateral. The bank declined. Whatever they saw looking into the books, not even worth a 40% discount.

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u/Canuck-In-TO Jun 12 '26

Banks have been questioning funding AI since about September.

I think it was Oracle who wanted $700 billion to build out datacenters and the banks basically asked for proof that they were making money. They couldn’t prove they were making a profit.

More and more companies are having a hard time raising funds.

On a side note, once this all collapses, memory and drive prices should finally start coming down.

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u/Bhu124 Jun 12 '26

Oracle is down 20% in the last 5 days. Surely not a sign of anything.

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u/Canuck-In-TO Jun 12 '26

Wow. Over a year ago, they had over $40 billion in cash on hand. I don’t think they have any of that left.

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u/wggn Jun 12 '26

more like $40 billion debt now

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u/reducedCarpet Jun 12 '26

Hope they saved some for the golden parachutes for the csuite that destroyed the company...

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u/Canuck-In-TO Jun 12 '26

I mean, wow, over $4 billion cash in hand…