SB Energy files for IPO amid data center power demand growth

Investing.com -- SB Energy Corp., a power infrastructure company backed by SoftBank Group Corp. and OpenAI, filed Tuesday for a U.S. initial public offering with the Securities and Exchange Commission.

The Redwood City, California-based firm reported a net loss of $3.2 billion on revenue of $139 million for the first half of 2026. This compares to a net loss of $216 million on revenue of $83 million during the same period in 2025.

SB Energy operates a portfolio of solar and battery storage assets. The company is developing a 9.2 gigawatt natural gas plant in Ohio that will power an artificial intelligence data center as the firm shifts its focus toward digital infrastructure.

OpenAI and SoftBank have each agreed to invest $500 million into SB Energy to build and operate the company's 1.2 gigawatt Texas data center for OpenAI. Ares Management Corp. has also invested in the company.

JPMorgan, Goldman Sachs, Morgan Stanley, Citigroup and Mizuho are leading the offering. The company plans to list its shares on the Nasdaq Global Select Market and Nasdaq Texas under the ticker symbol "SBE".

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