SB Energy plans to sell up to $500 million of new shares to Japanese investors as part of preparations for a U.S. public listing, according to a filing reported by Reuters. The sale is separate from the company’s eventual IPO, whose size has not been disclosed.
The proceeds are intended to support general operating needs tied to data-center development, power generation, and related infrastructure projects. The transaction gives SB Energy an additional source of capital as it positions itself to benefit from demand for computing capacity and electricity linked to artificial intelligence.
SoftBank Group backs SB Energy and could seek a valuation of approximately $50 billion for the company, Reuters has previously reported. Nvidia has committed to invest $1.5 billion through a private placement priced at the IPO level, while OpenAI has received warrants valued at roughly $5.5 billion, according to SB Energy’s investment prospectus.
The planned share sale highlights the increasingly interconnected financing of AI models, data centers, chips, and power assets. It also provides an early indication of the capital structure and strategic investors surrounding a potential high-profile technology listing.
