SB Energy filed for a U.S. initial public offering in early September. The SoftBank-backed data center developer will sell up to $500 million in shares to Japanese investors. This strategy aims to tap into Japan’s household financial assets, mirroring a previous move by SpaceX.
SoftBank reportedly seeks a valuation of approximately $50 billion for the company. Nvidia has already committed $1.5 billion to the offering as a strategic investor. OpenAI holds warrants in the developer valued at roughly $5.5 billion.
Proceeds from the IPO will fund the construction of data centers and power generation facilities. The company also plans to invest in related infrastructure projects.