SB Energy has filed for a US stock market listing with securities regulators. The company builds power infrastructure and data centres for artificial intelligence work. SoftBank is its controlling shareholder, and OpenAI and Nvidia are also backers. Sam Altman invested personally at an early stage. The filing says the company is "substantially dependent" on OpenAI, which is both a tenant and an investor. None of its data centres are running yet, and that business has produced no revenue. The filing lists further risks, including community opposition to data centres, slower spending by large cloud operators, and facilities becoming obsolete. Shares will trade on Nasdaq and Nasdaq Texas under the ticker SBE. Pricing and a date have not been announced. The Wall Street Journal reported trading could start this month.
What changed
SB Energy was a privately held SoftBank-backed energy developer.
- $3.2B net loss, H1 2026
- $139M revenue, H1 2026
- $5B-$7B IPO target
- $105B Nvidia financing for Ohio site
Sources