SoftBank shares fall on AI funding concerns
SoftBank Group's shares declined by 3.1% due to concerns regarding the financing and execution of its massive data center project in New Mexico, which is part of the $500 billion artificial intelligence infrastructure initiative. Oracle Corporation issued a notice citing force majeure due to potential delays in securing power for the Jupiter project, raising doubts about the project's funding and construction ability to meet the planned deadlines for completion in 2028. This development comes at a time when SoftBank is relying on borrowing, having raised $11.1 billion this week to fund its investments in artificial intelligence, amid growing credit concerns among investors about corporate debts related to AI.
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