SoftBank Reports $7 Billion Loss Due to US Data Center Writedown

• SoftBank Group Corp. shares dropped by as much as 11% following the announcement.
• The loss was primarily due to a $3.7 billion writedown for US data center projects and falling AI valuations.
• This marks SoftBank's first net loss in almost two years.
• The company's AI investments also contributed to the financial setback.
• SoftBank's Vision Fund, which invests in tech startups, was significantly impacted by the loss.