SoftBank's SB Energy delays IPO over $50 billion valuation, NYT says
The New York Times reported that the data centre developer has delayed an offering planned for this month, as investors questioned a valuation of $50 billion or more.
SB Energy has delayed an initial public offering planned for this month, The New York Times reported on Monday. The SoftBank subsidiary has proposed what it describes as the largest data centre project in the world, in Ohio. Investors questioned a sought valuation of $50 billion or more.
Four financial accounts relayed the report on Monday. Techmeme credited the Times reporter Maureen Farrell, and zerohedge and PolymarketMoney carried the same line. firstadopter quoted the Times directly, saying bankers had struggled to find enough buyers within the price ranges the company and its bankers sought.
Bloomberg said separately on Monday that Nvidia is buying an additional $1.5 billion in SB Energy shares ahead of the listing. Nvidia's commitment is not new. SB Energy set the terms out when it filed, and The Tech Capital reported a total of $3 billion, half of it already paid, with shares to come at a 10 percent discount to the IPO price.
Neither SB Energy nor SoftBank has commented on the delay, and the Times account rests on four people it said were familiar with the marketing of the deal. The Times did not say when the offering might proceed. SB Energy has said the Ohio campus would host OpenAI computing capacity.