SoftBank (SFTBY) Stock; Inches Up Following 10GW AI Buildout News

TLDRs;

• SoftBank plans a $30–40 billion AI campus in Ohio, powered by $33 billion in natural gas energy.
• The Ohio data center project links to a $550 billion U.S.-Japan investment pact promoting infrastructure and AI development.
• Experts express concerns over water usage, energy load, and regulatory hurdles for Ohio’s AI data center.
• Large AI firms may create self-funded energy-and-compute campuses, shaping future AI competition.

SoftBank (SFTBY) shares inched higher Thursday after the Japanese conglomerate unveiled plans to construct a massive 10-gigawatt AI data center at the former Portsmouth uranium enrichment site in Piketon, Ohio. The ambitious project, backed by SB Energy, marks one of the largest private data infrastructure efforts in U.S. history and could reshape how tech companies approach energy-intensive AI computing.

The stock’s modest uptick reflects investor optimism over SoftBank’s continued push into AI-related infrastructure, even as analysts caution about the complexity and scale of the buildout.

$40B Project to Transform Ohio Infrastructure

The 3,700-acre Portsmouth site, located about 70 miles south of Columbus, is set to host an AI data center campus with a total computing capacity of 10GW. SB Energy, SoftBank’s renewable and energy subsidiary, has already sourced turbines for the project. The first units are expected to be delivered within a year, while the full complement of 9.2GW is scheduled for completion by the end of the decade.

SoftBank Group Corp., SFTBY

SB Energy also plans an additional 800 MW for the campus and is collaborating with American Electric Power Co. to invest $4.2 billion in local transmission upgrades. These investments aim to ensure sufficient electricity delivery for the enormous power requirements of the AI facility.

Tied to Strategic U.S.-Japan Pact

The project is part of a broader $550 billion U.S.-Japan trade and investment initiative, underscoring its strategic importance. SoftBank CEO Masayoshi Son, alongside U.S. Energy Secretary Chris Wright, was scheduled to speak publicly in Ohio about the plan. The initiative is expected to steer Japanese capital into U.S. infrastructure projects, including AI computing, and aligns with policies that encourage private operators to fund their own energy requirements.

SB Energy’s collaboration with OpenAI, particularly through the 1.2GW Stargate data center in Texas, reflects the growing interconnection between AI development and energy infrastructure. While SoftBank has not disclosed specific customers for the Ohio site, industry insiders note the facility could support a new generation of AI-powered services.

Critics Flag Environmental and Power Concerns

Despite the project’s scale and potential benefits, critics have raised concerns about its environmental and infrastructure impact. A petition is circulating in Ohio calling for a constitutional amendment to restrict new data centers larger than 25 megawatts. PJM Interconnection, which oversees the regional grid, also highlighted that integrating 9.2GW of new generation could take years due to standard interconnection procedures.

Analysts point to the potential strain on local water supplies and electricity infrastructure. At the same time, the project demonstrates the trend of tech companies investing directly in their energy sources to secure reliable power for high-demand AI computing, avoiding costs that might otherwise fall on residential electricity customers.

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