SoftBank reports $3.7B turbine loss
The gist
SoftBank Group recorded a ¥597,248 million ($3.73 billion) loss on US AI data-center power equipment.
The writedown hits turbine suppliers and tests faith in AI infrastructure spending.
How it unfolded
- Nov 6, 2026Elon Musk, xAI's CEO, wrote on X that SoftBank was defaulting on its turbine orders; the post had about 2.4 million views when read on November 11.
- Nov 10, 2026SoftBank reported a loss of ¥597,248 million ($3.73 billion) on power generation equipment for US AI data centers for the six months ended September 30, 2026.
- Nov 10, 2026SoftBank said the writedowns included $2.85 billion of non-refundable advance payments to equipment companies and $880 million tied to contract modifications and settlements.
Key terms
- writedown
- An accounting reduction in the recognized value of an asset, reflecting that it is worth less or nothing.
- gigawatt
- A unit of power equal to one million watts, used to measure the rate of energy transfer.
- premarket
- Stock trading that takes place before the regular trading hours of a stock exchange open.
Source: Wikipedia