NVIDIA plans to invest $3 billion in SB Energy, a subsidiary of SoftBank, betting on OpenAI’s Ohio data center project.

NVIDIA is deeply embedding its financial resources into the AI infrastructure construction chain—and this time, its target is SB Energy, a subsidiary of SoftBank. On August 15, according to The Information, NVIDIA is in talks with SB Energy to invest up to $3 billion. SB Energy—a SoftBank Group subsidiary—is leading the development of a large-scale Ohio data center project for OpenAI. Neither NVIDIA nor SB Energy has commented on the matter. This investment forms part of a broader negotiation framework. According to insiders, NVIDIA is negotiating with both OpenAI and SB Energy to provide approximately $100 billion in credit support for the Ohio data center campus; the $3 billion equity investment is embedded within this arrangement. Two-step investment: half at signing, half at IPO Per The Information’s sources, NVIDIA plans to invest $1.5 billion upon signing the Ohio project agreement, with the remaining $1.5 billion committed as a follow-on investment at the time of SB Energy’s IPO. SB Energy aims to launch its IPO as early as next month, targeting at least $5 billion in fundraising. If NVIDIA contributes $1.5 billion at that time, it would become one of the largest investors in the offering. However, insiders caution that negotiations remain ongoing; the investment amount could shrink, and the deal is not yet finalized. SB Energy may also delay its listing and seek a higher fundraising target in its IPO. The Ohio project: $500-billion scale, led by SB Energy SB Energy—controlled by SoftBank—is the lead developer of the Ohio data center project. Located in southern Ohio, the project is expected to add up to 10 gigawatts of new power generation capacity. Based on current hardware, labor, and electricity costs, total development expenses are estimated at around $500 billion. OpenAI will utilize this data center and purchase NVIDIA chips—precisely why NVIDIA is stepping in and committing roughly $100 billion in credit support: to help finance the project’s construction while securing long-term demand for its chips. Founded in 2019, SB Energy’s core expertise lies in renewable energy generation, and it has relatively limited experience in data center development.

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【Memory shortage may persist until 2030; SK Hynix CEO reiterates memory price hikes】 According to reports, SK Hynix CEO Kwak Noh-Jung stated at the recent groundbreaking ceremony for the company’s new U.S. factory that no signs of a downturn in the memory market are visible, and the memory shortage is expected to last until the end of 2030. SK Hynix has repeatedly revised its outlook for market relief: it previously projected easing by 2028, then declared 2027 the industry’s most difficult year in July, and now pushes the timeline all the way to year-end 2030. Kwak explained that AI memory is shifting from standardized mass-produced products to customized solutions; thus, even if demand declines in the future, prices won’t crash as they have over the past few decades—but rather taper off smoothly toward planned levels. In other words, DDR5 prices will remain high even after the crisis peak subsides. (Sina Finance) 【Mech-Mind Robotics becomes Hong Kong’s first listed ‘eyes-brain-hands’ embodied AI company】 Mech-Mind (Xiong’an) Robotics Technology Co., Ltd. (“Mech-Mind Robotics”) successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on September 1, with an initial offering size of $300 million and a maximum size of $345 million upon full exercise of the over-allotment option. (For more details → Xiong’an’s first unicorn just went public! Three Tsinghua alumni founded the company 10 years ago, building a global leader generating nearly ¥400 million annually.) Cornerstone investors committed $186 million. (Shanghai Securities News) 【Media report: Akulaku secretly filed for Hong Kong IPO, aiming to raise up to $500 million】 IFR, citing sources familiar with the transaction, reported that Indonesian fintech firm Akulaku—backed by Ant Group—has confidentially filed for a Hong Kong IPO, seeking to raise between $300 million and $500 million. (Sina Finance) 【SB Energy, backed by SoftBank, files for U.S. IPO; NVIDIA pledges $1.5 billion investment】 On September 1, SB Energy—a Texas-based energy company supported by SoftBank—filed its preliminary prospectus, indicating plans for an initial public offering of common stock and listing on both the Nasdaq Global Select Market and Nasdaq Texas, under the ticker “SBE.” The number of shares and price range have yet to be determined. The prospectus states that SoftBank Group, through its affiliated entities, expects to retain a significant stake post-IPO and maintain control, rendering SB Energy a “controlled company” under Nasdaq rules. Meanwhile, NVIDIA has committed to purchasing $1.5 billion worth of newly issued non-voting equity securities of SB Energy at the same price as the IPO, with the transaction closing concurrently with the IPO. (RuiShou Analysis ← Click here for more) 【Kesell completes $400-million Series C financing】 Recently, Kesell Medical Technology (Suzhou) Co., Ltd. completed a $400-million Series C financing round. The round was co-led by China Merchants Capital and Jinhé Capital, with participation from Qianyan Investment, Chuangjing Capital, and other investors. Existing shareholders—including Jiangsu Social Security Fund, Suzhou New & High-Tech Investment Group, Suzhou New & High-Tech Holding Co., Ltd., and Yueyin Healthcare Fund—continued to significantly increase their stakes. Proceeds will primarily fund capacity expansion and advance R&D and global regulatory registration of core products in peripheral intervention, coronary intervention, and cardiac electrophysiology, furthering the company’s platform-based, ecosystem-oriented, and international strategic layout across the broader vascular intervention field.

SB Energy Plans to Start IPO Marketing After SEC Review Finished

Sep 22, 2026

SB Energy intends to launch its IPO roadshow following SEC approval, facing investor questions over its $50 billion valuation and massive AI data center projects funded by Nvidia and OpenAI.

bloomberg

2026-09-01

SoftBank-Backed SB Energy Files for IPO to Tap AI Power Thirst

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SB Energy Plans to Start IPO Marketing After SEC Review Finished

SB Energy Plans to Start IPO Marketing After SEC Review Finished

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