SoftBank's subsidiary SB Energy will submit an IPO registration application.

SoftBank Group's subsidiary SB Energy plans to secretly submit a draft registration statement for its initial public offering to the U.S. Securities and Exchange Commission. The digital infrastructure and energy company stated on Wednesday that the offering and its timing will depend on market conditions and other factors, and will require approval from the SEC. In January of this year, SoftBank Group and OpenAI announced that they would each invest $500 million in SB Energy. This move is part of the "Stargate" project, which aims to build a comprehensive AI infrastructure platform in collaboration with multiple U.S. companies. Additionally, OpenAI has selected SB Energy to build and operate its previously announced data center in Milam County, Texas.