SoftBank posts a massive loss of $7.1 billion, shares plunge as much as 11%! Masayoshi Son's AI ambitions face the test of power supply and financing costs.

Zhitong Finance APP has learned that SoftBank Group Corp., led by legendary investor Masayoshi Son, saw its share price fall as much as 11% in early trading in the Japanese stock market, before the decline narrowed significantly amid bargain hunting, with the drop at about 5% as of publication. The previous day, the Japanese technology investment company reported its first net loss in nearly two years, due to factors including a $3.7 billion asset write-down related to a U.S. data center project and a decline in the valuation of AI assets.