SoftBank Writes Off $3.7 Billion on Advance Payments for Data Center Projects

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SoftBank wrote off $3.7 billion in non-refundable advance payments tied to equipment for data center projects, citing a review of its plans. The write-down includes $0.9 billion related to contract modifications, underscoring changes in its data center investment program.

SoftBank wrote off $3.7 billion spent on non-refundable advance payments to secure data center equipment, reflecting a review of its data center plans, the company said in reporting its September quarter results. The writedown includes $0.9 billion written off related “to contract modifications ...