SB Energy May Delay IPO Until After December, OpenAI Data Center Project Valuation Faces Scrutiny

According to Yonhap News Agency, SoftBank Group-affiliated data center developer SB Energy is considering delaying its U.S. listing to December or next year, shifting from its originally scheduled date of September this year. SB Energy is the driving force behind OpenAI's Ohio data center project. The report noted that recent heightened market volatility and rising interest rates have cooled investor sentiment toward AI-dedicated data center (Neocloud) companies. SB Energy plans to list at a valuation of approximately $60 billion, aiming to raise between $5 billion and $7 billion. However, the company currently has no operational data centers, and its valuation is based solely on expected future profits, which has led to a lukewarm response from investors. According to sources familiar with the matter, SB Energy's management is closely monitoring Anthropic's anticipated IPO, expected before the Thanksgiving holiday in November. If Anthropic's stock performance remains strong following its listing, SB Energy could proceed with its own offering in December.