Musk claims SoftBank gas turbine order is in default

Amid a broad selloff in artificial intelligence infrastructure stocks and a 10.8% plunge in the share price of Japan's SoftBank Group, Elon Musk posted on Friday: "SoftBank is defaulting on gas turbine orders." Musk made the remarks in reply to a tweet by Katie Miller. Miller is a conservative podcast host who previously served as an adviser to Musk; her tweet revived Musk's claim from January 2025 that SoftBank lacks the funds to finance the "Stargate" artificial intelligence project. Miller also shared a Bloomberg report concerning the disposal of a $500 million data center loan tied to the Stargate project. Musk provided no supporting evidence for the new allegation he raised this time.