# SoftBank Is Paying Nearly Triple Its 2018 Rate to Borrow Against the AI Industrys Most Valuable Private Stake - Date: 2026-04-25 - Category: Artificial Intelligence Banks are charging SoftBank nearly triple the 2018 spread to borrow against illiquid OpenAI shares rather than publicly traded Alibaba. That gap is the market telling you something about private AI equity as collateral. ---