US chip giant Nvidia is buying an additional USD 1.5 billion worth of shares in SoftBank-backed data center company SB Energy ahead of the company’s planned US IPO.
The shares are being bought in a directed share issue at 90 percent of the price in the planned IPO. The investment brings Nvidia’s total investment in SB Energy to USD 3 billion.
At the same time, SB Energy is said to have postponed the IPO, which was planned for September, the New York Times reports, citing sources. The reason is that the banks have struggled to find enough buyers within the price range sought by the company and its advisers.
SB Energy has 8.8 gigawatts of data center capacity contracted or under construction.
