Core Insights - SoftBank's ambitious $100 billion AI infrastructure investment plan, "Stargate," is facing significant obstacles due to tariff threats from the Trump administration, leading to stalled financing negotiations [1] - The plan was announced in January by SoftBank's founder Masayoshi Son and OpenAI co-founder Sam Altman, with intentions to deploy $100 billion immediately and potentially expand to $500 billion over time [1] - As of now, SoftBank has not established a financing template or engaged in detailed discussions with banks, private equity investors, or asset management firms [1] Group 1 - The initial discussions with lenders and alternative asset management firms began earlier this year, but no deals have been reached due to economic volatility and the emergence of cheaper AI services [2] - Trump's trade policies have severely disrupted financial forecasts for AI, with rising capital costs and concerns about a potential global recession affecting data center demand [2] - Data center construction costs are projected to increase by 5% to 15% due to higher tariffs on components, compounding the existing cost pressures on AI infrastructure projects [2] Group 2 - The emergence of more efficient and cheaper AI models, such as China's DeepSeek, raises concerns about the long-term profitability of projects associated with OpenAI [3] - Investors are beginning to realize that AI models are not a scarce resource, leading to price wars that could erode profit margins and diminish the commercial rationale for large-scale data center construction [3] Group 3 - Despite the challenges, SoftBank is continuing to push forward with the Stargate plan, having formed a dedicated team of 20 to 30 people within its Vision Fund to accelerate the rollout of large-scale data centers [4] - Supporters of the Stargate plan include Oracle and Mubadala's MGX, with SoftBank seeking backing from banks and debt investors, including pension funds and insurance companies [4] - The plan involves SoftBank providing a small equity stake of about 10% to 20%, accompanied by substantial debt financing, including mezzanine debt and preferred loans [4] - Uncertainty is impacting negotiations, and the stagnation may indicate a cooling of the overall AI infrastructure boom, potentially affecting the recent surge in tech stocks driven by AI enthusiasm [4]

软银与OpenAI的"星际之门"项目因经济风险担忧遇阻 金十数据5月12日讯，据外媒报道，软银集团在美国投资1000亿美元人工智能基础设施的计划已经放 缓，关税带来的经济风险阻碍了融资谈判。软银创始人孙正义和OpenAI联合创始人阿尔特曼今年1月公 布了"星际之门"项目（Stargate），承诺"立即"开始投入1000亿美元，并逐步将其规模增至5000亿美元 左右。但三个多月过去了，软银仍未制定出项目融资模板，也未与银行、私募股权投资者和资产管理公 司展开详细讨论。据知情人士透露，随着经济波动加剧和人工智能服务价格下降，金融家重新评估数据 中心，因此没有达成任何交易。资本成本上升以及对全球经济衰退可能削弱数据中心需求的担忧，导致 相关讨论陷入僵局。 ...

软银集团(SoftBank Group Corp.)计划向美国人工智能基础设施投资1000亿美元，然而由于华盛顿方面的 关税所带来的经济风险，该计划已放缓，相关融资谈判也受到了影响。与贷款机构和投资者的初步谈判 已经启动，但尚未达成任何交易，因为金融家们在经济波动性加剧以及人工智能服务价格走低的情况 下，正在重新评估数据中心项目。软银正在组建一个团队专注于"星门"(Stargate)项目，并且正在与银行 和债券投资者接触，但由于关税方面的讨论、对产能过剩的担忧以及OpenAI方面的动荡，不确定性给 谈判带来了压力。 ...

市场消息：软银与OpenAI的1000亿美元合资项目遭遇资金障碍。软银尚未开始关于"星际之门"债务融 资的详细谈判。 订阅人工智能动态 +订阅 ...

智通财经5月12日电，据报道，软银与OpenAI投资1000亿美元的合资企业遭遇融资障碍。 ...

Group 1 - SoftBank Group is expected to report a net loss of 26.9 billion yen (approximately $184.4 million) due to the cooling of tech startups and increased losses from major investments [1] - The strong yen and the excellent performance of SoftBank's telecom assets, such as T-Mobile, which saw a quarterly increase of over 20%, may partially offset the negative impact of portfolio valuation adjustments [1] - Analysts predict a stark contrast in net loss for the January-March quarter compared to a net profit of 231 billion yen in the same period last year [1] Group 2 - SoftBank has announced its largest investment plan in years, committing $20-30 billion to OpenAI and acquiring chip startup Ampere Computing for $6.5 billion [2] - Analysts question whether these AI investments will improve profitability, as these projects have yet to show substantial results amid intense industry competition [2] - Market uncertainty has led to a cooling IPO market, which may further depress the valuations of SoftBank's unlisted portfolio companies [2]

Group 1 - The core focus of the article is that SoftBank is committed to developing next-generation storage chips [1] Group 2 - The initiative indicates a strategic move by SoftBank to enhance its technology portfolio [1] - This development could potentially impact the semiconductor industry by introducing advanced storage solutions [1]

软银公司将致力于开发下一代存储芯片。 ...

智通财经5月8日电，软银CEO表示，将致力于开发下一代存储芯片。 ...

Core Insights - OYO Hotels has postponed its IPO originally scheduled for October due to opposition from SoftBank [1] Company Summary - The decision to delay the IPO indicates potential challenges in securing investor confidence and highlights the influence of major stakeholders like SoftBank on OYO's strategic decisions [1]