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A version of this story was published in the AI-Energy Nexus newsletter on September 2, 2026. Subscribe to get pieces like this — plus expert analysis, original reporting, and curated resources — in your inbox every Wednesday.
I didn’t expect to find myself digging into SB Energy’s data center plans for the second week running, but here we are.
Earlier this week, following a year of investments from the likes of Nvidia and OpenAI, the Softbank subsidiary filed for an initial public offering with the SEC, reportedly aiming to raise between $5 billion and $7 billion. The filing describes SB Energy as an “integrated data center and power infrastructure company.”
It’s not surprising, but it’s worth highlighting what a dramatic shift in business strategy this is. SB Energy was founded in 2019 as a renewables developer and only officially began pivoting towards AI infrastructure in 2025, when it bought Studio 151, a data center EPC and operations firm.
