Japanese conglomerate SoftBank is seeking a loan of up to 40 billion dollars to help finance its planned investment in ChatGPT developer OpenAI, according to a Bloomberg News report on Friday that cited people familiar with the discussions. The proposed financing is expected to take the form of a bridge loan with an estimated tenor of about 12 months. Bloomberg reported that four lenders are likely to underwrite the facility, including JPMorgan. Negotiations between SoftBank and the banks are still underway, and the final terms of the loan could change as talks progress.

Reuters said it was unable to independently confirm the report. Both OpenAI and SoftBank did not immediately respond to requests for comment regarding the potential financing arrangement. SoftBank Chief Executive Masayoshi Son has been increasingly focused on artificial intelligence investments, signaling a strong commitment to the sector. His strategy has included expanding the company’s financial exposure to OpenAI, one of the most prominent AI developers in the world. By the end of last year, SoftBank reportedly held a stake of roughly 11 percent in the company.

OpenAI has also been exploring long term growth plans, including preparations for a potential initial public offering that could value the company at up to 1 trillion dollars, Reuters reported earlier. OpenAI said last month it is planning a major funding round that could raise about 110 billion dollars. The round could value the company at around 840 billion dollars and is expected to involve large investments from major technology players. SoftBank and US chipmaker Nvidia are each expected to contribute about 30 billion dollars, while e commerce giant Amazon may invest roughly 50 billion dollars.