SB Energy, the SoftBank-backed developer of AI data centers, filed for a US IPO on Tuesday, reporting 66.4% revenue growth in the first half of 2026 and a $439 billion backlog while disclosing it has no operational facilities and is substantially dependent on OpenAI. The filing underscores the tight linkages among OpenAI, SoftBank, and Nvidia in the $500 billion Stargate project as the company seeks to broaden its customer base through acquisitions.
It is substantially dependent on OpenAI, with SoftBank and OpenAI serving as customers at three of its data center campuses through long-term leases.
Few people can say with much confidence what the AI landscape will look like even five or ten years from now.
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NVIDIA has partnered with SB Energy to secure an initial 4.25 IT-GW of AI capacity at the PORTS-Pike campus in Ohio, with OpenAI as the customer for the full 8 IT-GW site under a 20-year lease. The agreement features a $1.5B NVIDIA investment in SB Energy, credit support for the buildout, creation of tens of thousands of jobs and an $80M community benefits fund.
Meta will build its first large Canadian data center, a 1GW AI-optimized project in Alberta's Sturgeon County expected to cost approximately $9 billion and require two to three years. The initiative forms part of the company's accelerated AI infrastructure rollout even as it develops a cloud computing business aimed at selling surplus capacity.
Gavin Newsom has signed seven bills that require AI data centers to cover the cost of upgrades to local power grids and water systems while also disclosing projected water consumption and satisfying specific efficiency standards. The legislation prevents utility expenses from being transferred to residents as data center activity expands.
General Fusion completed its SPAC merger with Spring Valley Acquisition Corp. III on July 10, 2026, becoming the first publicly traded fusion company. Shares will begin trading on Nasdaq under GFUZ on Monday after an earlier $1 billion deal announcement that followed layoffs and a CEO funding plea, plus a new Italy deployment partnership with Renexia, though significant technical hurdles remain.
Anthropic's IPO prospectus warns its AI work could raise catastrophic risks to humanity while reporting a $42 billion net loss on $4.6 billion revenue. The filing also details plans for a founder-controlled LLC to retain 50.1 percent voting power post-IPO.
