SoftBank's $7.1B gas loss

1. 01:00
   TechCrunch · AI

   SoftBank's $1 billion loss may have limited AI's natural gas ambitions

   SoftBank announced a $7.1 billion quarterly loss, more than half of which came from power equipment losses, primarily due to non-refundable deposits paid by its SB Energy subsidiary for locking in gas turbine orders being deemed invalid. The company preordered over 50% of the 13 billion watts of turbines two years ago, trying to secure a share in the market for AI energy demand surge through large-scale purchases, but ultimately paid a price of over $3 billion due to overpayment and overordering, reflecting the fever in the power sector of the AI industry.

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