Nvidia is buying an additional US$1.5 billion stake in SB Energy through a private placement before the SoftBank Group-backed company’s planned US initial public offering, according to a regulatory filing.

The filing said Nvidia will buy new Class N non-voting shares at 90% of the initial public offering price, bringing its total investment in SB Energy to US$3 billion.

OpenAI is also a backer of SB Energy.

SB Energy, a US-based developer of data centers for AI workloads, said it has 8.8 gigawatts of facilities under contract or under construction, including projects in Texas and Ohio.

The company has filed publicly for a US initial public offering, but the available materials do not disclose the target exchange, valuation, or fundraising size.

🔗 Source: Bloomberg

Recent SB Energy developments