00:00It's Benzinga bringing Wall Street to Main Street.
00:02SoftBank Group reported a second quarter net loss of $7 billion
00:06as U.S. data center development costs and rising financing payments weighed on earnings,
00:13according to Reuters. The loss exceeded analysts' forecasts and compared with a 2.5 trillion yen
00:19profit a year earlier. SoftBank recorded a $3.7 billion loss tied to advance payments for U.S.
00:27data center equipment after project plans changed. The company could receive up to $2.1
00:32billion in rebates on future purchases. Financing costs more than doubled to $462 billion during the
00:40quarter. SoftBank raised a record $56.5 billion during the period as founder Masayoshi Son continued
00:49aggressive investments in artificial intelligence, including data centers, robotics, and a $64.6
00:56billion stake in OpenAI. For all things money, visit Benzinga.com.
