SoftBank Group has secured an additional $450 million in credit, lifting an existing facility to $6.5 billion, according to people familiar with the matter. The move bolsters the Japanese conglomerate's financial flexibility as it expands its investments in artificial intelligence.

The original credit arrangement, totaling $6.05 billion and scheduled to mature this month, will now be available to SoftBank for another year with the increased size, the people said, asking not to be identified because the details are private. It remains unclear whether SoftBank has drawn on or intends to use the new facility.

SoftBank sits at the center of a heated debate over the wisdom of borrowing to bet on AI, a discussion that has intensified amid frequent safety alarms and heightened market volatility. As one of the world's largest technology investors in AI, SoftBank has recently executed a series of financing transactions to support its AI strategy, including increasing its stake in OpenAI, the artificial intelligence giant.

The latest credit facility now involves participation from more than 20 banks, the people said. They added that the new agreement carries an interest rate of 210 basis points over the benchmark secured overnight financing rate. A representative for SoftBank declined to comment.