ENWeekly newsletter
Newsletter
IPO market25 IPO profiles25 in the pipeline0 tradingFull calendar

SB Energy IPO

Filed
SBENasdaq Global Select / Nasdaq Texas (proposed)Energy and data-center infrastructureFiled Sep 1, 2026

company and offering status

FollowIPO alert
Initial OpenAI lease1.2 GWCompany disclosure · Jan 9, 2026
Partner equity investmentUSD 1 billionPrivate financing · Jan 9, 2026
  1. IPO filing
  2. Roadshow
  3. Pricing
  4. First trade
  5. Quiet period
  6. Lockup

Performance since IPO

Confirmed share price history

No published trading history yet

IPO recap

Offering not completed

Filed

SB Energy filed IPO documents on Sep 1, 2026. IPO date and IPO offer price are not yet confirmed.

FiledSep 1
Pricing—
First trade—
Lockup ends—
IPO price—Not confirmed
Shares offered—Not confirmed
First trade—Not confirmed
Day-one close—Not confirmed
Raised — · Lead —Compare IPO calendar →

The short version

Author: Tobias KrügerReviewer: Andreas BergamannEditorial review How we check the data

SB Energy has a public US IPO registration and proposes Nasdaq symbol SBE. Final pricing and trading dates remain unconfirmed.

Key takeaway 1

Public S-1; SBE is a proposed symbol.

Key takeaway 2

Contracted GW differ from commissioned capacity.

Company in detail

SB Energy develops and owns power and data-center infrastructure. Its model links energy projects, construction capability and long-term customer commitments.

The issuer announced its public S-1 in September 2026 and proposed SBE as its Nasdaq symbol. A later SEC amendment is available. The pending symbol does not establish a completed offering.

The OpenAI and SoftBank partnership combines equity capital with contracted data-center development. Contracted capacity is not proof of commissioned facilities. Construction sequencing, power interconnection, financing costs and concentration of major counterparties matter when assessing the eventual offer.

Operating metrics

Initial OpenAI lease

1.2 GW

Contracted buildout in Milam County, Texas; not an operating-capacity measure.

Jan 9, 2026

Company profile

Legal name
SB Energy, Inc.
Headquarters
Redwood City, California
Founded
2019
Co-CEOs
Rich Hossfeld and Abhijeet Sathe
Sponsor
SoftBank Group
Business
Power and data-center infrastructure
Capability acquisition
Studio 151 construction and operations
Listing application
Nasdaq Global Select Market and Nasdaq Texas
Employees
No published figure
Website

Timeline

  1. OpenAI and SoftBank partnership

    Capital is linked to data-center development.

  2. Public S-1 announced

    SB Energy announces its registration.

  3. S-1 amended

    Amendment No. 2 is filed with the SEC.

Sources

Initial OpenAI lease

1.2GW

Contracted buildout in Milam County, Texas; not an operating-capacity measure.

Partner equity investment

USD 1 billion

OpenAI and SoftBank each announced USD 500m; private equity, not IPO proceeds.

Valuation

—

Not confirmed

Employees

—

No published figure

Net income

—

No published figure

Operating cash flow

—

No published figure

Financials

No reported financial periods with figures available

Revenue
No published financial dataReported financial periods will appear here when available.
No reported period with figures

Financial results are not available in the sources listed here.

Valuation & peers

Price-to-sales, revenue growth and gross margin

Comparable metrics unavailableComparable company figures for the same date are not available.
Revenue growth (%)
Reported peer metrics
CompanyP/SGrowthGM
SB Energy———
No published peer comparison

Context: Private financing valuations and modeled market values do not establish an IPO valuation. Revenue run-rate is not used here to calculate a price-to-sales ratio.

Private valuation and funding details

IpoHub score

How we score
Balance sheet—
Growth—
Community—
Profitability—
Valuation—

Individual category scores are not available.

Where the money goes

Use of proceeds—
Allocation percentages—
Net proceeds—

Details on the use of IPO proceeds are not available.

Key risks

Editorial analysis

Project completion

Permits, power interconnection and construction can delay cash flows.

ANALYSIS

Financing and concentration

Large projects need capital and depend on major counterparties.

ANALYSIS

Deal terms

Ticker
SBE
Exchange
Nasdaq Global Select / Nasdaq Texas (proposed)
IPO price
Not confirmed
Price range
Not confirmed
Pricing date
Not confirmed
First trading day
Not confirmed
Shares offered
Not confirmed
Deal size
Not confirmed
Underwriters
Not confirmed
Greenshoe shares
Not confirmed
Lockup
Not confirmed
Quiet period expirations
Not confirmed

SB Energy IPO: where and how to invest

Where can I invest in the SB Energy IPO?

The SB Energy IPO is currently marked as filed; public share trading is not yet confirmed in this profile. If IPO subscriptions become available, you need a broker offering that specific deal to investors in your country. Having an account does not guarantee an allocation. After a confirmed listing, you can look for a broker that supports the relevant exchange.

Can I buy SB Energy shares now?

Public trading in SB Energy shares is not yet confirmed here. An announced or priced offering does not automatically mean you can buy the stock on an exchange. An IPO subscription and a private share purchase each have separate access requirements.

When is the SB Energy IPO?

A confirmed first trading day for SB Energy has not yet been published here. Check official company announcements and final offering documents; a planned timetable can change.

What is the SB Energy IPO share price?

A confirmed IPO offer price for SB Energy has not yet been published here. Private funding valuations and modeled private-market prices do not establish the eventual IPO share price.

What is SB Energy's stock ticker and exchange?

The ticker recorded in this profile is SBE. The exchange recorded here is Nasdaq Global Select / Nasdaq Texas (proposed). A proposed symbol or exchange does not establish that trading has begun. Verify the final listing announcement before placing an order.

Can I buy SB Energy shares before the IPO?

Private transactions or funds may sometimes provide exposure to SB Energy if a specific offer exists and you meet its requirements. This profile does not confirm an available private offer. A fund interest may provide indirect exposure rather than direct ownership of company shares. Private investments can have resale restrictions, uncertain valuations and limited exit options; a future IPO is not guaranteed.

Where can I find the SB Energy IPO prospectus?

Check SB Energy's official investor-relations announcements and publications from the relevant regulator and exchange. The company sources and documents on this page provide a starting point. A confidential submission or an announcement about it is not a publicly available prospectus. Before subscribing, read the final prospectus for the risks, price, share class and offering terms.

Compare brokers →SB Energy company sources and documents →

More questions about the SB Energy IPO

When is the IPO?

No final pricing or first-trade day is verified.

Is SBE a confirmed trading symbol?

It is the proposed Nasdaq symbol; first trading is not verified.

Learn more about IPO access and private investments: Investor.gov · FINRA

Similar IPOs

All IPOs →
—Rumored

Airwallex

—IPO date not confirmed
—Rumored

Anduril

—IPO date not confirmed
—Filed

Anthropic

—IPO date not confirmed

Not investment advice. Private market prices are dated model estimates. Community votes are not a recommendation.