SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions
Published . Updated .
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SoftBank lost over $3 billion preordering natural gas turbines to power AI data centers. Here's what the loss means to power markets.
Directly affected
- SFTBY SoftBank Group (TYO: 9984)
Named in this report.
Indirectly affected
- UNG United States Natural Gas Fund-13.5% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story.
- XLE Energy Select Sector SPDR+7.5% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story.
- QQQ Invesco QQQ-9.8% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- LNG Cheniere Energy+11.8% 30d
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- KMI Kinder Morgan
Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- EQT Eqt+0.4% 30d
Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- WMB The Williams Companies
The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- GOOGL Alphabet-16.0% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| SFTBYNon-US listing (OTC); price checks may stay empty | — | — | — | — | — | — | — |
| UNG | -9.22% | -1.27% | base | +2.65% | after close | after close | after close |
| XLE | -2.64% | -2.21% | base | +1.50% | after close | after close | after close |
| QQQ | -6.13% | -1.68% | base | -0.32% | after close | after close | after close |
| LNG | -8.19% | -6.39% | base | +1.67% | after close | after close | after close |
| KMI | -4.40% | -3.20% | base | +1.39% | after close | after close | after close |
| EQT | -3.93% | -5.26% | base | -0.61% | after close | after close | after close |
| WMB | -6.77% | -3.55% | base | +0.80% | after close | after close | after close |
| GOOGL | -3.71% | -1.84% | base | +1.75% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions TechCrunch
Source: TechCrunch
How far United States Natural Gas Fund (UNG) has moved since 12 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Eqt (EQT) | that day | -0.61% | final price |
| Eqt (EQT) | three days earlier | -5.26% | final price |
| Eqt (EQT) | five days earlier | -3.93% | final price |
| GOOGL | that day | +1.75% | final price |
| GOOGL | three days earlier | -1.84% | final price |
| GOOGL | five days earlier | -3.71% | final price |
| Kinder Morgan (KMI) | that day | +1.39% | final price |
| Kinder Morgan (KMI) | three days earlier | -3.20% | final price |
| Kinder Morgan (KMI) | five days earlier | -4.40% | final price |
| Cheniere Energy (LNG) | that day | +1.67% | final price |
| Cheniere Energy (LNG) | three days earlier | -6.39% | final price |
| Cheniere Energy (LNG) | five days earlier | -8.19% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | that day | -0.32% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | three days earlier | -1.68% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | five days earlier | -6.13% | final price |
| United States Natural Gas Fund (UNG) | that day | +2.65% | final price |
| United States Natural Gas Fund (UNG) | three days earlier | -1.27% | final price |
| United States Natural Gas Fund (UNG) | five days earlier | -9.22% | final price |
| Williams Companies (WMB) | that day | +0.80% | final price |
| Williams Companies (WMB) | three days earlier | -3.55% | final price |
| Williams Companies (WMB) | five days earlier | -6.77% | final price |
| Select Sector Spdr Tr (XLE) | that day | +1.50% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.21% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.64% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 77 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 87 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 90 days before publication. Filed 14 Oct 2026. View the filing.
- Sen. Alan Armstrong sold Williams Companies (WMB) (jointly held), worth $250,001 - $500,000 on 8 Sep 2026. That is 65 days before publication. Filed 22 Oct 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $15,001 - $50,000 on 20 Aug 2026. That is 84 days before publication. Filed 17 Sep 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $1,001 - $15,000 on 19 Aug 2026. That is 85 days before publication. Filed 17 Sep 2026. View the filing.
- Rep. Rohit Khanna bought Alphabet (GOOGL) (held by a dependent child), worth $1,001 - $15,000 on 28 Oct 2026. That is 15 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 59 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 69 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Microsoft (MSFT) (held by a dependent child), worth $1,001 - $15,000 on 28 Oct 2026. That is 15 days before publication. Filed 5 Nov 2026. View the filing.
- Sen. Shelley M Capito sold Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 21 Oct 2026. That is 22 days before publication. Filed 4 Nov 2026. View the filing.
- Sen. Sheldon Whitehouse sold Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 15 Oct 2026. That is 28 days before publication. Filed 2 Nov 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who collects and who pays in energy
Companies tied to this story
- UNG United States Natural Gas Fund
United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions.” Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
- XLE Select Sector Spdr Tr
For “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
- QQQ Invesco Qqq Trust, Series 1
In “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions,” Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence. Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- LNG Cheniere Energy
Cheniere Energy (LNG) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions.” Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- EQT Eqt
For “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions,” Eqt (EQT) is linked, with no stored direction, medium confidence. Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- KMI Kinder Morgan
In “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions,” Kinder Morgan (KMI) is linked, with no stored direction, medium confidence. Reason on file: Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- WMB Williams Companies
Williams Companies (WMB) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions.” Reason on file: The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- MSFT Microsoft
Microsoft (MSFT) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions.” Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
United States Natural Gas Fund (UNG) and the energy link
“SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions” (12 Nov 2026) reaches United States Natural Gas Fund (UNG) through Energy.
United States Natural Gas Fund (UNG) is on the page because United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
Select Sector Spdr Tr (XLE) is here too. Its reason reads: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
Dates in the story, and the United States Natural Gas Fund (UNG) price range
QQQ traded between 680.34 and 757.18 across 20 sessions. The latest close on file is 685.32. UNG traded between 8.95 and 11.43 across 20 sessions. The latest close on file is 9.34. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
The energy score for United States Natural Gas Fund (UNG)
46 out of 100
“SoftBank’s billion-dollar loss may have put a cap on AI’s natural gas ambitions” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.