OpenAI issued warrants worth $5.5 billion in SB Energy, WSJ reports
- SoftBank Group and OpenAI are the planned tenants in three SB Energy data centers, the report said
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, Nvidia invested $1.5 billion in SB Energy, and agreed to provide a guarantee of up to $105 billion to help OpenAI lease a data center in Ohio being developed by the company.
SoftBank Group and OpenAI are the planned tenants in three SB Energy data centers, the report said.
Reuters reported, citing sources, earlier this year that SB Energy could seek a valuation of more than $50 billion in its market debut, which could come as early as next month.
SB Energy, a SoftBank subsidiary, develops large-scale power and data center infrastructure projects.
Founded in 2019, the company is building several data center campuses to support rising demand tied to AI workloads.
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