Nvidia Doubles Down on SB Energy with $1.5 Billion Investment

Nvidia is making another significant investment in SB Energy, purchasing an additional $1.5 billion of shares at 90% of the company's upcoming US listing price. This brings Nvidia's total backing for SB Energy to $3 billion.

The chipmaker is buying new N-class non-voting shares in a private placement, which gives it control over the economics of the project without voting rights. This move is significant given that Nvidia supplies processors used by SB Energy, creating demand for the company's data centres.

SB Energy has 8.8 gigawatts of data centre capacity under contract or construction, with projects in Texas and Ohio. The company is targeting $5 billion to $7 billion in proceeds from its listing.