SoftBank Group shares fall 11% after reporting a $7 billion loss.

November 11 - According to Bitget data, SoftBank Group's stock price fell as much as 11%. Earlier, the Japanese tech investment giant reported its first net loss in nearly two years, due to a $3.7 billion writedown on its U.S. data center projects and declining valuations of AI-related assets. On Wednesday, the stock fell to as low as 3,465 yen in Tokyo trading. In the fiscal quarter ending in the second quarter of the current fiscal year, SoftBank Group swung from profit to a loss of 1.12 trillion yen (approximately $71 billion).

The loss stemmed from writedowns on certain prepayments—originally intended for purchasing power equipment to support an 8-gigawatt (GW) project in Ohio and other U.S. data center projects—that have become unrecoverable due to project changes.