OpenAI has warrants worth $5.5B from this SoftBank subsidiary
What's the story
US tech giant OpenAI has been issued warrants worth an estimated $5.5 billion by SB Energy, a power infrastructure firm, the Wall Street Journal has reported. The information comes from draft IPO documents reviewed by the publication. However, neither SB Energy nor OpenAI are yet to comment on this matter.
Recent developments
NVIDIA invested $1.5B in SB Energy this month
Earlier this month, NVIDIA invested $1.5 billion in SB Energy and agreed to guarantee up to $1.5 billion for OpenAI to lease a data center in Ohio that is being developed by the company.
Market debut
SB Energy's market debut
According to Reuters, SB Energy, a SoftBank subsidiary that develops large-scale power and data center infrastructure projects, could be valued at over $50 billion in its market debut as early as next month.
The company was founded in 2019 and is currently building multiple data center campuses to meet the growing demand for AI workloads.