SoftBank has discussed energy project funding with banks
Technology
SoftBank has discussed energy project funding with banks
(Reuters) - Japanese technology investor SoftBank Group has recently talked with banks about borrowing money to invest up to $10 billion in energy-related projects, The Information reported, on Thursday.
The group could secure the capital for power-related investments by securing bank loans and tapping other investors, the report added, citing a person with direct knowledge of the discussions.
The rapid technological advancements around generative artificial intelligence have spurred growth in energy demand and data center investments.
SoftBank founder Masayoshi Son said last month the group would ramp up its power generation business primarily in the U.S. to supply power to generative AI projects worldwide.
The group has also discussed setting up a special-purpose company that would buy Nvidia chips with money borrowed from banks. That company would in turn lease the chips to SoftBank, the report added, citing the person.
