Stocks
Nvidia Doubles Down on SB Energy Ahead of IPO with $1.5 Billion Investment
Nvidia Corp., the world's most valuable company, is investing heavily in the AI economy by purchasing an additional $1.5 billion in shares of SB Energy Inc., a data center provider backed by SoftBank Group Corp.
This new investment brings Nvidia's total backing of SB Energy to $3 billion and comes as the company prepares for its US initial public offering (IPO).
The purchase price is 90% of the IPO price, according to a regulatory filing. SB Energy has 8.8 gigawatts' worth of data centers in contract or under construction, including projects in Texas and Ohio.