SoftBank has discussed energy project funding with banks, The Information reports

(Reuters) - Japanese technology investor SoftBank Group has recently talked with banks about borrowing money to invest up to $10 billion in energy-related projects, The Information reported on Thursday.

 

The group could secure the capital for power-related investments by securing bank loans and tapping other investors, the report added, citing a person with direct knowledge of the discussions.

 

SoftBank did not immediately respond to a Reuters request for comment.

 

The rapid technological advancements around generative artificial intelligence have spurred growth in energy demand and data center investments.

 

SoftBank founder Masayoshi Son said last month the group would ramp up its power generation business primarily in the U.S. to supply power to generative AI projects worldwide.

 

The group has also discussed setting up a special purpose company that would buy Nvidia chips with money borrowed from banks. That company would in turn lease the chips to SoftBank, the report added, citing the person.

 

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Jan Harvey)