GE Vernova shares fell on Tuesday after SoftBank Group disclosed a loss tied to changing its plans for buying power generation equipment for U.S. artificial intelligence data centers. The stock traded at $784.86 at about 2:50 p.m. Eastern time, down $44.48, or 5.4%, from Monday’s close of $829.34. It fell as low as $747.00 earlier, down 9.9%.
SoftBank booked a loss of about 597 billion yen ($3.7 billion) in the six months to Sept. 30 from changing its procurement plans for power generation equipment for U.S. AI data center projects, CNBC reported. The charge helped push SoftBank to a net loss of 1.12 trillion yen for the July-to-September quarter. CNBC tied GE Vernova’s drop to SoftBank’s revisions. SoftBank said in May that it had reserved turbines from makers including GE Vernova for a planned data center power project in Ohio, Yahoo Finance reported.
GE Vernova rose 7.1% on Monday. Tuesday’s price was about 24% below its Oct. 6 close of $1,029.21.
