TNW | Finance
SoftBank swings to $7bn loss after writing off $3.7bn of AI power gear
Behind the SoftBank loss: 13GW of gas turbines reserved for AI data centres, the WSJ reports. Its CFO denies Elon Musk’s default claim as borrowing costs double.
By TNW | Finance
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·Excerpt
SoftBank Group swung to a net loss of ¥1.12tn ($7.1bn) in the July to September quarter. The biggest single hit was a $3.7bn writedown on power equipment for US AI data centres. SoftBank had paid for it in advance, then changed its plans.
The SoftBank loss compares with a ¥2.5tn profit a year…
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