SoftBank's SB Energy IPO Delayed to October Amid Questions Over $50 Billion Valuation and Reduced NVIDIA Support
SB Energy, a SoftBank subsidiary, has postponed its IPO, originally slated for this month, until mid-to-late October due to investor concerns over its target valuation of $50 billion or more. The company plans to build the world's largest data center in Ohio but currently has no operational track record. Previously, NVIDIA significantly reduced its support for the project from $250 billion to a "residual value guarantee" of $105 billion, and its direct equity investment also decreased from $3 billion to $1.5 billion. This delay reflects a crack in Wall Street's confidence in the AI data center boom and could impact OpenAI's "Stargate" hashrate construction plan.
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