Softbank's SB Energy files for IPO, says it's 'substantially dependent' on OpenAI

SB Energy hasn't generated any revenue from its data center business, and none of its data centers are operational yet.

SB Energy, an AI power infrastructure company, has filed for an initial public offering (IPO). The company is backed by SoftBank, OpenAI, and Nvidia. According to CNBC, SB Energy stated it is "substantially dependent" on OpenAI.

The company plans to list on Nasdaq under the ticker SBE. Quartz reported that SB Energy aims to raise between $5 billion and $7 billion through the IPO.

No further details about the IPO or the company's financial situation have been provided in the reports.

Brief written by urgent.news from Techmeme, Tom's Hardware, Quartz — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.

Also reported by 1 other outlet

AI power infrastructure company SB Energy, which is backed by SoftBank, OpenAI, and Nvidia, files for an IPO, and says it is "substantially dependent" on OpenAI (CJ Haddad/CNBC) cnbc.com

Read the original at cnbc.com →

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