Openai's Ties to Data Center Firm SB Energy Revealed in IPO Filing

SB Energy's prospectus for its initial public offering sheds light on its close ties to OpenAI. The AI lab has warrants in SB Energy that could be worth up to $5.5 billion. It's another example of the circular dealing between customers and investors in the AI buildout.

Every company in tech watches out for OpenAI. SB Energy can't look away. The data center developer filed its prospectus to go public on Monday, and it's uniquely intertwined with the AI lab behind ChatGPT, according to figures from the new filing.

Everywhere SB Energy turns, there's OpenAI: leasing data center capacity, owning billions of dollars in warrants, even locking in an OpenAI software deal through 2028. OpenAI, should it get a 5% ownership stake in SB Energy, will also get to pick a member of the company's board. SB Energy's decision to go public signals the incredible expense in building new data centers and the rapacious demand for compute that OpenAI and its peers have generated over the last few years.