Nvidia eyes investing $3 billion in SB Energy under OpenAI data center deal, Information says
NVDA•SB Energy IPO plans and project background
SB Energy is aiming to go public as soon as next month and could raise at least $5 billion in the IPO, the report added.
SB Energy, which is also backed by OpenAI, 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.
The Wall Street Journal on Friday reported that Nvidia has revised its plans to support a proposed OpenAI data center project in Ohio and is now expected to initially guarantee less than $120 billion, down from the $250 billion previously discussed.
Reuters could not immediately verify the report. Nvidia and SB Energy did not immediately respond to requests for comment outside regular business hours.
Nvidia in talks for up to $3 billion SB Energy investment
Aug. 15 (Reuters) - Nvidia NVDA.O is in talks to invest as much as $3 billion in SB Energy, a SoftBank Group 9984.T subsidiary developing a massive planned Ohio data center project for OpenAI, the Information reported on Saturday, citing people familiar with the discussions.
The proposed investment is part of Nvidia's talks with OpenAI and SB Energy on providing around $100 billion in credit support for the planned Ohio data center campus, the report said.
Nvidia has discussed investing half of the $3 billion when the Ohio project deal is signed and the other half as part of SB Energy's planned initial public offering, according to the Information.
