OpenAI issued warrants worth $5.5 billion in SB Energy, WSJ reports
OpenAI was issued warrants worth an estimated $5.5 billion in power infrastructure firm SB Energy, the Wall Street Journal reported on Sunday, citing draft IPO documents reviewed by the Journal. Reuters could not immediately verify the report. SB Energy and OpenAI did not immediately respond to Reuters requests for comment outside regular business hours. Here are some details: Earlier this month,…
OpenAI has been reportedly issued warrants worth an estimated $5.5 billion in power infrastructure company SB Energy, according to the Wall Street Journal. The report, citing draft IPO documents, suggests this significant investment positions OpenAI to lease a data center in Ohio developed by SB Energy.
Earlier this month, Nvidia made a $1.5 billion investment in SB Energy and placed a guarantee of up to $105 billion to facilitate OpenAI's data center lease. SoftBank Group and OpenAI are set to be tenants in three SB Energy data centers, as per the report.
Reuters had earlier this year cited sources suggesting SB Energy could seek a valuation exceeding $50 billion in its market debut, potentially occurring as early as next month. SB Energy, a subsidiary of SoftBank, specializes in developing large-scale power and data center infrastructure projects. Established in 2019, the company is actively constructing multiple data center campuses to accommodate the growing demand for AI workloads.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- SB Energy offered OpenAI $5.5 bln in warrants to secure data-center deal - WSJ investing.com
- OpenAI issued warrants worth $5.5 billion in SB Energy, WSJ reports economictimes.indiatimes.com
- OpenAI issued warrants worth $5.5 billion in SB Energy, WSJ reports channelnewsasia.com
