Update
SoftBank Cancels Excess Gas Turbine Orders for AI Data Centers
SoftBank Group has booked a ¥597.2 billion ($3.7 billion) writedown after cancelling gas turbine orders for AI data centers in the United States. The charge helped drag the company to a net loss of ¥1.12 trillion ($7 billion) for its fiscal second quarter. The loss traces back to Silver Bands 7 LLC, a SoftBank subsidiary, which placed orders for gas turbines before competitors could. SoftBank cancelled advance orders that were no longer needed, resulting in a $3.7 billion charge. The company holds rights to conditional rebates of up to $2.1 billion on future turbine purchases.