GE Vernova (GEV) says SoftBank's $3.7 billion power equipment loss has no financial impact on it

Key points GE Vernova shares swing on SoftBank's equipment loss GE Vernova still calls SoftBank a valued customer Why JPMorgan sees GE Vernova's turbine slots refilling GE Vernova (GEV) shares fell as much as 9.9% on Nov. 10 after SoftBank Group (SFTBY) reported a 597.2 billion yen ($3.73 billion) loss tied to power equipment for US AI data centers. The turbine maker's shares recovered to close at $797.04, down 3.9% and at their high for the day. SoftBank said the loss followed a change in its equipment procurement plans, but it didn't name its suppliers. GE Vernova supplies gas turbines for SoftBank's Ohio data center project, according to CNBC. GE Vernova said SoftBank remains a valued customer and that SoftBank's disclosure had "no negative or positive financial impact" on the company. SoftBank lost $2.85 billion in advance payments The loss sits with Silver Bands 7, a unit that SoftBank Group and its second Vision Fund have invested in.

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