OpenAI issued warrants worth $5.5 billion in SB Energy, WSJ reports

Aug 31 (Reuters) - OpenAI ‌was issued ​warrants ​worth an estimated $5.5 billion in power infrastructure firm SB Energy, the ‌Wall Street Journal reported on Sunday, citing ⁠draft IPO documents reviewed by the Journal.

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

Here are some details:

• Earlier this month, Nvidia invested $1.5 billion ⁠in SB Energy, and agreed to provide a guarantee of up ​to $105 billion to help OpenAI lease a data center in Ohio being ​developed by the company.

• ‌SoftBank Group and OpenAI are the planned tenants in three SB Energy ⁠data centers, the report said.

• Reuters reported, citing sources, earlier this year that SB Energy ⁠could seek a valuation of more than $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 center infrastructure projects. Founded in 2019, the company ‌is building several data center campuses to ⁠support rising demand ‌tied to AI ​workloads.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita ‌Bhattacharjee)

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