SoftBank posts $7.1B quarterly loss on surplus gas turbines
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SoftBank reported a $7.1 billion quarterly loss, more than half of it tied to power-generating equipment. According to TechCrunch, the company had placed nonrefundable deposits on more than 13 gigawatts of natural gas turbines, roughly 50% more than it needed, and the resulting loss on that surplus equipment exceeded $3 billion. The misplaced bet reflects the electricity rush around AI data centers. Analysts cited in the report say it is unlikely to trigger mass cancellations of gas power plants.
Generated from reports · updated 19 h ago
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- TechCrunch · AISoftBank'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.
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