SB Energy, a data center and power infrastructure developer backed by SoftBank, revealed the paperwork for its U.S. initial public offering on Tuesday.
Companies tied to the AI build-out have increasingly turned to the IPO market this year, as hyperscalers and technology firms pour billions of dollars into expanding data centers to meet soaring demand for computing.
Reuters had reported that SB Energy could seek a valuation of more than $50 billion in its IPO, which could come as early as September.
J.P. Morgan, Goldman Sachs and Morgan Stanley are among the underwriters for the offering.
SB Energy will list on the Nasdaq and Nasdaq Texas under the symbol “SBE.”
Reuters
