SB Energy, an AI power infrastructure company backed by Softbank, has filed for an initial public offering (IPO) with the SEC. The company highlights that it is significantly reliant on OpenAI’s performance as a tenant and investor, with CEO Sam Altman as an early investor. Currently, SB Energy has yet to generate revenue from its data centers, which are not yet operational. For the first half of 2026, it reported net losses of approximately $3.2 billion, alongside $139 million in revenues from its legacy business.
Nvidia has pledged $105 billion in financing for an OpenAI data center in Ohio, set to be built by SB Energy. The company plans to trade on Nasdaq under the ticker symbol SBE and aims to raise between $5 billion and $7 billion in its IPO. Notably, the IPO filing also points out the growing public opposition to data centers and the risks associated with technological advancements, regulatory changes, and a general backlash against AI technology.
