Wall Street Journal ·

SoftBank reserved 13GW+ of turbines, equivalent to six Hoover Dams, to power AI; SoftBank took a $3.7B earnings hit mostly from canceled reservations

SoftBank reserved enough gas turbines to generate the power of six Hoover Dams. It cost the company billions of dollars in losses.

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SoftBank reserved 13GW+ of turbines, equivalent to six Hoover Dams, to power AI; SoftBank took a $3.7B earnings hit mostly from canceled reservations

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Wall Street Journal — SoftBank reserved 13GW+ of turbines, equivalent to six Hoover Dams, to power AI; SoftBank took a $3.7B earnings hit mostly from canceled reservations ↗

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The Information: SoftBank wrote off $3.7B in non-refundable data center equipment advances after reviewing its plans in Q2; the company had committed $9.5B in advance payments

Bloomberg: SoftBank sealed a two-year loan facility to support its OpenAI investment, securing $11.87B in commitments from ~20 banks, above its $10B target

Financial Times: Anthropic bought commitments for 1.7GW of gas-fired generators from equipment supplier OnePWR for $3.4B, the largest known such purchase by an AI lab

Wall Street Journal: IPO documents: SoftBank's SB Energy plans to file for an IPO as soon as this week, aiming to raise $5B to $7B, and has awarded OpenAI warrants worth ~$5.5B

Bloomberg: Sources detail the lengths SoftBank went to secure its $11B junk bond sale, including high yields, to replace a $40B bridge loan for its OpenAI investment

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