Nvidia has increased its investment in SoftBank's energy subsidiary, SB Energy, by purchasing an additional $1.5 billion in shares. This transaction brings the chipmaker's total equity commitment to $3 billion. The acquisition involves non-voting Class N shares, secured through private placement and a prepaid forward contract at the upcoming IPO price.
SB Energy is preparing for a US initial public offering on Nasdaq under the ticker SBE, targeting a valuation of approximately $50 billion. The company intends to raise between $5 billion and $7 billion through the listing. Additionally, the firm is seeking $500 million from Japanese investors to fund power and data center infrastructure.
The core asset of SB Energy is the PORTS-Pike Technology Campus in Ohio, which is designed for an initial load of 4.25 gigawatts, with potential expansion to 8 gigawatts. The facility is primarily leased to OpenAI, with a contract requiring the exclusive use of Nvidia hardware. Nvidia has also provided a guarantee of up to $105 billion in residual value for the project.
In the first half of 2026, SB Energy reported a 66.4% year-over-year revenue increase, although net losses grew during the same period. The company filed its IPO registration in late August 2026.
