SoftBank's $7.1B quarterly loss includes over $3B tied to surplus natural gas turbines

SoftBank posted a $7.1 billion quarterly loss, with more than half stemming from losses on power-generating equipment after it placed nonrefundable deposits on more than 13 gigawatts of turbines, roughly 50% more than it needed. The misplaced bet of over $3 billion reflects the electricity mania around AI data centers, though analysts say it is unlikely to trigger mass cancellations of gas power plants.