
SoftBank Pauses Purchase Negotiations for Switch, Stalling Its Data‑Center Expansion Plan
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SoftBank in talks to inject up to $30 billion into OpenAI, signaling deeper strategic pivot into AI
SoftBank is in advanced, non-binding talks to provide a sizeable new capital commitment to OpenAI that could reach about $30 billion, reflecting Masayoshi Son’s strategic push to deepen influence in frontier AI. The discussions remain preliminary, but the possibility has already propped up SoftBank’s share price and highlights a broader market trend toward concentrated, large-scale financing of leading model developers.

Nebius boosts GPU and data‑center spending to lock in AI capacity
Nebius sharply increased quarterly capital spending to buy AI processors and expand its global data‑center footprint, pushing secured electrical capacity above 2 GW and raising its year‑end target to more than 3 GW. The build‑out — including a planned 240 MW, GPU‑dense campus in Béthune, France — widens near‑term losses but is aimed at underpinning a multibillion‑dollar annualized revenue run‑rate by the end of 2026.
New York lawmakers seek three-year moratorium on new data center permits
New York state legislators introduced a bill to impose a three-year pause on approvals for new data centers to allow time for updated interconnection, siting and rate rules. The proposal comes as a wider wave of local opposition — recalling earlier fights over Bitcoin mining — has delayed or canceled roughly $64 billion in planned U.S. data center projects and prompted developers to accept greater local mitigation responsibilities.

Nintendo’s margins under pressure as DRAM crunch and Switch 2 momentum unsettle investors
Nintendo’s stock slid sharply after the company flagged revenue shortfalls against expectations while profit and sales growth remained strong year‑on‑year. A severe shortage and big contract price increases for DRAM are creating a near‑term margin risk that could force pricing or supply tradeoffs as Nintendo seeks broader consumer uptake for Switch 2.

Texas moves to reassess data‑center grid approvals, injecting fresh uncertainty into investments
Texas regulators and grid managers are reviewing recent permissions for large data‑center power connections, a move that could slow project timelines, add technical or financial conditions, and amplify already growing local opposition seen nationally. The reassessment comes as permitting fights and community pushback across multiple states have contributed to roughly $64 billion of delayed or canceled U.S. data‑center projects, raising the stakes for how upgrade costs and mitigation obligations are allocated.

Hyperscalers' Energy Purchases Reshape Market for Solar and Storage Developers
Recent large clean-energy deals by major cloud providers show a shift from long-term contracts toward direct ownership of generation and storage, creating acquisition opportunities and pressure on independent developers to scale faster. The trend raises demand for round-the-clock renewable supply and accelerates consolidation in the solar-plus-storage sector.

Nvidia Pushes Back on OpenAI Rift as AI-Fueled Selling Drags Software and Asset Managers
Nvidia’s CEO publicly pushed back on reports that a once‑prominent framework with OpenAI had broken down, stressing the talks were being mischaracterized and that any early memorandum was nonbinding. Markets nonetheless punished software and asset-management names as investors and credit desks repriced the prospect that generative AI will compress incumbent software economics and raise credit risk in private‑credit books.

BorgWarner’s move into AI data center power systems ignites investor fervor
BorgWarner agreed to supply turbine generator systems for TurboCell (an Endeavour unit), sparking a sharp one‑day share rally and analyst re‑ratings that now model hundreds of millions of near‑term revenue and a multi‑year, low‑billion dollar opportunity. Broader industry moves—from Baker Hughes’ multi‑billion target for data‑center power to asset plays like TeraWulf—underscore strong demand but also heighten execution and competitive pressures that make revenue recognition likely phased and contingent on site validation.