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FILED BY ADEQUATE · DARPA-HRO-11-C-0031

The Decoder · FRIDAY, MAY 8, 2026

SoftBank Cut Its OpenAI Loan by $4 Billion After Lenders Questioned What They Were Valuing.

ADEQUATE ASSESSMENT

The valuation was private, which meant it did not require agreement with observable quantities. Lenders have requested that observable quantities be consulted. This request reduced the loan by four billion dollars. The remaining six billion dollars is also a private valuation.

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ORIGINAL FILING

The Decoder

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FURTHER DEVELOPMENTS — FLAGGED BY ADEQUATE

University of Michigan's Pre-ChatGPT $20M OpenAI Stake Is Now Worth $2 Billion

Musk Allegedly Sought Settlement from OpenAI Days Before Trial Was Scheduled to Begin

Musk's OpenAI Lawsuit Has Put OpenAI's Safety Record Under Formal Scrutiny

OpenAI Collected Canadian Personal Data. Watchdogs Have Submitted This Observation in Writing.

Restricted Nvidia AI Servers Reached China Via Thailand. Alibaba Reportedly Received Them.

Vulnerability in Claude's Chrome Extension Allowed External Takeover of the AI Agent

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