SoftBank's SB Energy goes public and admits it "substantially depends" on OpenAI
Prepared by Sintelligent with the help of SI. Publication time restored from the build log. . Updated: .
An entire new energy sector is being built for SI, but its financial fate hangs on a single customer, making OpenAI's success a question for the stock market.
SB Energy, a builder of power and data-center infrastructure, has filed for an IPO on Nasdaq under the ticker SBE and is reportedly seeking a valuation above $50 billion. In the first half of 2026 it had revenue of $138.7 million and a loss of $3.21 billion, with a contract portfolio of about $439 billion covering 8.8 GW of capacity. OpenAI is the main tenant, with 20-year contracts at three campuses, and holds warrants worth roughly $5.5 billion; Nvidia has committed to invest $1.5 billion.
Sources 1