Nvidia Adds $1.5 Billion to SB Energy IPO Backing

MT Newswires Live
Yesterday

Nvidia committed an additional $1.5 billion to SB Energy ahead of the SoftBank Group (TYO:9984) unit's Nasdaq listing, bringing its total investment commitment to $3 billion, according to an amended filing with the U.S. Securities and Exchange Commission on Monday.

The chipmaker prepaid $1.5 billion to purchase a new class of non-voting Class N common stock at 90% of the IPO price under a prepaid forward contract.

Nvidia had separately committed to purchase $1.5 billion of Class N shares in a private placement at the IPO price.

SoftBank Group is expected to retain control of SB Energy following the IPO.

SB Energy develops data center and energy infrastructure and has 8.8 gigawatts of data center projects under contract or construction, including projects in Texas and Ohio.

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