SoftBank-backed SB Energy has filed paperwork for a US initial public offering that could value the data center and power infrastructure developer at more than $50B, with a listing possible as early as September, according to Reuters.
The company plans to debut on the Nasdaq and Nasdaq Texas under the ticker SBE, with J.P. Morgan, Goldman Sachs and Morgan Stanley among the underwriters. The filing was confirmed by DealStreetAsia on Tuesday.
SB Energy sits at the center of the AI power buildout. The company develops the campuses and energy infrastructure that hyperscalers need to run AI workloads, and its investor roster reflects that positioning: Nvidia has been reported to be putting up to $3B into the company, and OpenAI holds warrants in it tied to data center financing.
The IPO taps a moment when companies linked to the AI buildout are rushing to public markets. Power and data center developers have become investor favorites as the sector’s capital demands outpace traditional utility investment.
A successful listing would give SoftBank another liquid stake in the AI infrastructure wave and hand SB Energy a war chest for new campuses. The $50B-plus target would make it one of the largest AI-infrastructure IPOs of the year.
