September 15, 2026 — SB Energy, a data-center developer backed by SoftBank Group, plans to sell as much as $500 million in shares to Japanese investors as it prepares for a public listing in the United States.
The planned share sale was disclosed in a filing on Tuesday. SB Energy said the new shares would be issued to Japanese investors, with the proceeds used for general operating expenses tied to the development of data centers, power-generation facilities and other related infrastructure projects.
The filing did not specify how large SB Energy’s eventual U.S. initial public offering will be. Reuters has previously reported that SoftBank could pursue a valuation of $50 billion for the company.
SB Energy’s fundraising comes amid a broader surge in investment in artificial-intelligence infrastructure. Technology companies are spending heavily to expand computing capacity, driving increased demand for data centers as well as the electricity and power-generation infrastructure needed to operate them.
The company has also secured financial commitments from major technology investors. Nvidia has agreed to invest $1.5 billion through a private placement priced at the IPO level, according to SB Energy’s investment prospectus released earlier this month.
OpenAI, meanwhile, has received warrants valued at approximately $5.5 billion, the prospectus said.
The planned sale to Japanese investors comes as enthusiasm remains strong for companies expected to benefit from the expansion of artificial intelligence. However, rising concerns over the sustainability of AI spending have also contributed to volatility across technology stocks.
SB Energy’s planned listing comes during an active year for major technology-related offerings. SpaceX went public in June, while Anthropic is preparing for a listing later this year.
Japanese investors showed strong demand for U.S. technology assets during SpaceX’s IPO, purchasing $2.2 billion worth of the company’s shares.
For SB Energy, the additional funding would help advance infrastructure projects as data-center operators face increasing demands for computing capacity and dependable electricity supplies.
The fundraising also highlights how the AI investment boom is extending beyond chipmakers and software companies into physical infrastructure, particularly data centers and power generation.
SoftBank remains a major financial backer of SB Energy, while Nvidia and OpenAI have developed substantial financial relationships with the company. Investors are expected to closely watch the eventual size and valuation of the U.S. IPO as they assess the next stage of investment in AI-related infrastructure.
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