SoftBank's $3B natural gas bet for AI data centers fizzles
softbank lost over $3 billion on natural gas power plant investments for ai data centers due to over-ordering and now considers those investments worthless.
softbank's sb energy subsidiary spent $33 billion on a 9.2-gigawatt natural gas power plant and put down deposits on over 13 gigawatts of turbines. however, the investor now considers much of those investments worthless due to over-ordering. softbank announced a $7.1 billion quarterly loss with over half from power-generating equipment. this misstep may slow ai's natural gas market development.