Nvidia is investing an additional $1.5 billion in SB Energy ahead of the energy and data center company’s U.S. initial public offering, taking its total equity commitment to $3 billion. The new tranche consists of Class N non-voting shares acquired through a private placement and a prepaid forward contract (an agreement to purchase shares later at a set price). Both instruments are priced at the IPO offering price. SB Energy, a SoftBank subsidiary, is targeting a valuation of roughly $50 billion and plans to raise $5 billion to $7 billion under the ticker SBE. Its PORTS-Pike Technology Campus in Ohio is designed to support an initial AI computing load of 4.25 gigawatts, expandable to 8 gigawatts, and is primarily leased to OpenAI under a long-term agreement requiring exclusive use of Nvidia chips. Nvidia has guaranteed up to $105 billion in residual value tied to the Ohio project. SB Energy’s revenue rose 66.4% year over year in the first half of 2026, while its net losses widened. The company filed its IPO registration in late August 2026 and is reportedly seeking an additional $500 million from Japanese investors for data center and power infrastructure development.