Nvidia underpins expected $50bn IPO valuation for SoftBank's SB Energy

IPOWith no data center revenue, builder counts on lease commitments from Nvidia-backed OpenAIFrom left, SoftBank Group CEO Masayoshi Son, Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman. (Source photos by Nikkei and Reuters)NATSUKI YAMAMOTO, KYOHEI SUGA and KOHEI YAMADASeptember 3, 2026 01:27 JSTTOKYO/PALO ALTO, California -- SoftBank Group unit SB Energy could reach a market valuation of $50 billion when it goes public in the U.S., but the IPO paperwork shows zero revenue in its main data center business, suggesting the company's valuation is propped up by its relationship with Nvidia.