SoftBank loses billions on AI data center power
TechCrunch: SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions
SoftBank lost over $3 billion pre-ordering natural gas turbines to power AI data centers. Here's what the loss means to power markets.
An investment firm announced a major quarterly loss, with over half stemming from losses related to power-generating equipment used for data centers. The firm had previously ordered significantly more turbines than it needed, paying nonrefundable deposits to secure them quickly amid competition for equipment needed to power AI data centers. Data center operators are now reconsidering natural gas as their primary power source and may instead opt for grid connections combined with large batteries, which could slow growth in the natural gas market more than the investment firm anticipated.
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