OpenAI Reportedly Secures Approximately $5.5 Billion in Warrants from SB Energy

Odaily News: Ahead of SoftBank-backed SB Energy's planned IPO, the company offered OpenAI a substantial incentive to secure the AI firm as a tenant for its data centers. According to IPO draft documents, OpenAI has obtained warrants valued at approximately $5.5 billion from SB Energy, following OpenAI's prior investment in the company.

SB Energy is expected to publicly file its IPO documents as early as this week. The company is working with bankers and could launch its IPO as soon as next month, targeting a fundraising amount of $5 billion to $7 billion. Currently, SB Energy's data center client base consists of companies that are also its investors. The documents show that SoftBank and OpenAI plan to become tenants in three of SB Energy's data centers. A fourth data center in Schleicher County, Texas, with an installed capacity of 900 megawatts, has yet to secure a client. (The Wall Street Journal)