SoftBank reported a quarterly loss of $7.1 billion, with more than half of this amount attributed to losses from power-generating equipment. The firm had previously paid nonrefundable deposits to turbine manufacturers to secure orders, which are now considered largely worthless.
The company had previously made significant investments in the energy sector, including a $30 billion stake in OpenAI in early 2025 and a $33 billion plan for a 9.2-gigawatt natural gas power plant announced by its subsidiary, SB Energy, in February.
Starting around 2024, SoftBank ordered over 13 gigawatts of turbines, which exceeded its actual requirements by nearly 50%. The strategy aimed to secure immediate access to equipment amid long industry wait times that now extend into the early 2030s.
The failed investment resulted in losses exceeding $3 billion. Despite this, experts suggest that the overall demand for power in the AI sector remains high, and the situation is unlikely to trigger mass cancellations of natural gas power plant projects.
