Elon Musk Claims SoftBank Is Defaulting on Its Turbine Orders

On Friday, November 6, 2026, Elon Musk said SoftBank was defaulting on its turbine orders, without naming a source, supplier or turbine type; neither SoftBank nor any turbine manufacturer confirmed the claim. That day, SoftBank’s five-year credit default swap, which pays out if a borrower defaults, rose 22 basis points to 466, its widest level since October 2022. The claim follows Musk’s earlier skepticism about Stargate, the AI infrastructure venture OpenAI announced with SoftBank and Oracle in January 2025, promising up to $500 billion, when Musk said the backers lacked funds and SoftBank had under $10 billion secured. Investors have also questioned how SoftBank is funding its $64.6 billion OpenAI investment.