SoftBank-Backed Firm to File for IPO on Data Center Ambition (1)

SoftBank Group Corp.-backed digital infrastructure firm SB Energy Corp. plans to file a confidential draft registration statement for a proposed initial public offering in the US, the company said in a Wednesday statement.

SB Energy, based in Redwood City, California, is looking to capture investor demand for firms building out power infrastructure for artificial intelligence data centers. The company has raised more than $1.8 billion to fulfill its data center ambitions from SoftBank, OpenAI and Ares Management over the past year.

In February, SB Energy unveiled plans for a 9.2-gigawatt natural gas power plant with an estimated cost of ...