Elon Musk Claims SoftBank Is Defaulting on Its Turbine Orders

Elon Musk claimed on Friday that SoftBank is defaulting on its turbine orders. The remark landed as the cost of insuring against a SoftBank default climbed to a four-year high. Neither SoftBank nor any turbine maker has confirmed the claim. Still, the timing matters for the group’s bondholders and shareholders, who already carry the debt behind its OpenAI bet. Why Is Musk Taking Aim at Stargate Again? Musk replied to a former aide who suggested his early doubts about Stargate had proved right. OpenAI announced the AI infrastructure venture with SoftBank and Oracle in January 2025, promising up to $500 billion in investment. Back then, Musk said the backers lacked the money and that SoftBank had well under $10 billion secured.

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