CDN NEWS | 
US NEWS 
By Nick Turner
The Nvidia Corp. logo displayed outside the company’s offices in Shanghai.Photographer: Qilai Shen/Bloomberg
Nvidia Corp. is buying an additional $1.5 billion in shares of SB Energy Inc., a data center provider backed by SoftBank Group Corp., ahead of that company’s US initial public offering.
Nvidia, the largest maker of artificial intelligence processors, agreed to buy the stake at a level that’s 90% of the IPO price, according to a regulatory filing Monday. The chipmaker is acquiring new N class nonvoting shares in a private placement, bringing Nvidia’s total backing of SB Energy to $3 billion.
The move is part of a flurry of investments by Nvidia, the world’s most valuable company, which seeks to use its enormous financial resources to bolster the broader AI economy.
SB Energy, meanwhile, is trying to capitalize on insatiable demand for data center infrastructure. It has 8.8 gigawatts’ worth of the facilities in contract or under construction, including projects in Texas and Ohio.
ChatGPT maker OpenAI, which is planning its own IPO, also is a backer of SB Energy.
Read More: SoftBank’s Data Center and Power Firm SB Energy Files for IPO
Share This:
