SoftBank’s SB Energy AI infrastructure unit files to go public
SB Energy Inc., a developer of data centers and electrical infrastructure, today filed for an initial public offering.
The SoftBank Group Corp. unit didn’t specify how much it’s hoping to raise. Over the weekend, the Wall Street Journal reported that SB Energy is looking to sell between $5 billion and $7 billion in shares. Sources earlier told Reuters that it could seek a valuation in excess of $50 billion.
SB Energy lost $3.2 billion on just $139 million in sales during the first half of the year. According to the company’s prospectus, practically all its revenue came from energy infrastructure projects. SB Energy operates a 900-megawatt solar farm in Texas that supplies power to a Google LLC data center. It’s also building two energy storage facilities in California, one of which will include a 580-megawatt solar array.
The company’s long-term growth strategy revolves around its data center business. It generated practically no revenue in the first half 2026, but has a massive $430 billion project backlog.
