SoftBank-backed SB Energy, the developer behind a massive planned data center campus for OpenAI in Ohio, is preparing to go public as soon as next month — and Nvidia is reportedly in talks to take a stake in it as part of the deal.
The Information reported on Saturday that Nvidia is discussing investing as much as $3 billion in SB Energy, citing people familiar with the discussions. Half of that investment would come when the Ohio project deal is signed, and the other half as part of SB Energy's planned initial public offering, the report said. The equity stake is part of Nvidia's broader negotiations with OpenAI and SB Energy over providing around $100 billion in credit support for the Ohio campus.
SB Energy is aiming for an IPO as soon as next month and could raise at least $5 billion, the report added. Founded in 2019 and backed by both SoftBank and OpenAI, the company develops large-scale power and data center infrastructure to support AI workloads.
The Wall Street Journal reported on Friday that Nvidia has revised its support plans: instead of the roughly $250 billion guarantee previously discussed, Nvidia is now expected to initially guarantee less than $120 billion for the project, which involves a 10-gigawatt campus in Piketon, Ohio.
Neither Nvidia nor SB Energy immediately responded to requests for comment, and Reuters could not independently verify the report.
