SoftBank’s SB Energy Files to Go Public

SoftBank’s affiliate company SB Energy filed to go public, laying out in detail its ambition to become a neocloud. So far, however, as the filing showed, SB Energy has “no data center capacity” currently operating.

SB Energy currently generates revenue from the sale of electricity to power authorities, energy service companies and others, with power coming from solar and batteries. Revenue last year totaled $213.5 million and the company burned more than $1 billion, mostly in capex.

The company is building data centers for customers including SB Energy’s controllng shareholder, SoftBank, and OpenAI, which SoftBank is also a big shareholder in. Nvidia is backing the development of one of the data centers being built for OpenAI.