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SoftBank Seeks Stake in Tepco to Power AI Data Centers, Announcing Bid on June 24

GateNews
AI Industry News

According to Bloomberg, on June 24, SoftBank announced it is seeking a stake in Tokyo Electric Power Co. (Tepco), Japan's biggest power utility, to secure electricity supplies for its AI data centers. SoftBank Corp., the group's telecoms unit, has put itself forward as a candidate buyer, though the proposed stake size and terms were not disclosed.

Tepco has been under state control since 2012, when the Japanese government acquired 50.11% voting rights. The utility has also received 10.2 trillion yen (US$63 billion) in no-interest loans tied to Fukushima cleanup and compensation efforts.

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