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      OpenAI reportedly receives warrants worth about $5.5 billion from SB Energy

      PANews reported on August 31, citing Jinshi and The Wall Street Journal, that before the SoftBank-backed SB Energy plans its IPO, the company offered OpenAI a massive concession in order to secure it as a tenant for its data centers. According to draft IPO documents, OpenAI received warrants in SB Energy worth about $5.5 billion, while OpenAI had previously already invested in the company. SB Energy is expected to publicly file its IPO documents as soon as this week. The company is working with bankers and may conduct its IPO as early as next month, with a target fundraising size of $5 billion to $7 billion.

      Currently, SB Energy's data center customer base consists of companies that are also investors in the company. The documents show that SoftBank and OpenAI plan to become tenants of three SB Energy data centers. A fourth data center in Scurry County, Texas, has a capacity of 900 megawatts, and no customer has been determined for it yet.


      Source: PANews
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