SoftBank-backed SB Energy, a developer of power infrastructure and data centers for AI, has postponed its U.S. initial public offering. The company filed to go public in September and is developing massive data center projects for clients such as OpenAI, with significant financial backing from Nvidia.
The delay comes as investors grow more cautious about high valuations and capital costs in the AI infrastructure sector. SB Energy was reportedly seeking a valuation of more than $50 billion despite having no operational data centers.
The decision makes Anthropic’s upcoming IPO a key test of market appetite. Several other AI-related companies have also shelved their listing plans amid market volatility.