Add as a preferred source on GoogleSoftBank Group Shares Fall as Much as 11% After $7.1 Billion Loss
The loss included a $3.7 billion write-down tied to U.S. data center projects and was the group’s first net loss in nearly two years.
SoftBank Group shares fell as much as 11% in Tokyo trading after the Japanese investment company posted its first net loss in nearly two years, driven by data center write-downs and lower AI valuations.
The shares reached 3,465 yen. SoftBank posted a net loss of 1.12 trillion yen, about $7.1 billion, for its fiscal second quarter. The loss included a $3.7 billion write-down tied to U.S. data center projects and lower valuations for AI-related assets.
The company also wrote down advance payments for power equipment intended for an eight-gigawatt project in Ohio and other U.S. data center projects. Changes to the projects made those payments unrecoverable.
The loss comes amid earlier concerns about financing SoftBank’s large AI investments.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.