OpenAI issued warrants worth US$5.5 billion in SB Energy: WSJ

OpenAI has been issued warrants estimated at US$5.5 billion in power infrastructure firm SB Energy, according to draft IPO documents reviewed by the Wall Street Journal. SoftBank Group and OpenAI are planned tenants in three SB Energy data centers, the report adds.

OpenAI was issued warrants worth an estimated US$5.5 billion in power infrastructure firm SB Energy, the Wall Street Journal reported on Sunday, citing draft IPO documents reviewed by the Journal.

Earlier this month, Nvidia invested US$1.5 billion in SB Energy, and agreed to provide a guarantee of up to US$105 billion to help OpenAI lease a data centre in Ohio being developed by the company. SoftBank Group and OpenAI are the planned tenants in three SB Energy data centres, the report said.

Reuters reported, citing sources, earlier this year that SB Energy could seek a valuation of more than US$50 billion in its market debut, which could come as early as next month. SB Energy, a SoftBank subsidiary, develops large-scale power and data centre infrastructure projects. Founded in 2019, the company is building several data centre campuses to support rising demand tied to AI workloads.

Reuters could not immediately verify the report. SB Energy and OpenAI did not immediately respond to Reuters requests for comment outside regular business hours.