SoftBank Loses $7.1 Billion on Gas Bet

SoftBank reported a $7.1 billion quarterly loss on Tuesday, with over half stemming from power-generating equipment. The firm had previously spent $33 billion on a 9.2-gigawatt natural gas plant and paid nonrefundable deposits for over 13 gigawatts of turbines. Analysts suggest the grid remains the best bet for AI data centers as natural gas faces winter curtailment risks.