GoKawiilSoftBank posts $7B quarterly loss tied to OpenAI data center bets
SoftBank reported a $7 billion loss for July-September, its first quarterly loss in two years, according to the Financial Times. At least $3.7 billion of that loss is linked to an OpenAI data center project in Ohio, though SoftBank has given conflicting statements about whether the losses stem from that development. The company has backed OpenAI with more than $60 billion in debt financing and recently raised over $11 billion through junk bonds.