Sun Zhengyi’s SB Energy plans to list on NASDAQ: Receiving $10 billion in credit support from Nvidia, targeting OpenAI with $43 billion in pending contracts
On September 7, 2026, SB Energy, under Sun Zhengyi’s ownership, officially submitted its S达克 S-1 filing, planning to launch an IPO. The company currently has no operating data centers and its revenue is zero, but with approximately $439 billion in pending contracts signed with clients such as OpenAI (including a computing capacity of 8.8GW), it is seeking a valuation of over $50 billion. Nvidia provides up to $105 billion in credit support for this project and promises to invest an additional $1.5 billion during the IPO. Through this project, Sun Zhengyi implements his investment philosophy of “using a small lever to create a big future,” aiming to transform the future computing needs of AI companies like OpenAI into current capital market value, and to drive the industry away from focusing on model capabilities towards addressing bottlenecks in land, electricity, and hardware supply chains.
SB Energy, under Sun Zhengyi’s ownership, has submitted its S-1 document for listing on NASDAQ. The company currently has no operating data centers and its revenue is zero. However, relying on OpenAI’s computing power demands over the next twenty years and approximately 439 billion US dollars in pending contracts (including 8.8GW capacity), it seeks a valuation of over 50 billion US dollars. Nvidia provides up to 105 billion US dollars in credit support for this project, and SoftBank and other capital giants jointly promote the implementation of AI infrastructure. Through cases like SB Energy, broadband, and Alibaba, Sun Zhengyi practices the investment logic of “using a small fulcrum to leverage the future”—that is, assuming that technology or markets will inevitably emerge, then planning in advance for key elements such as land, electricity, and data centers to build a leverage mechanism. Although WeWork’s investment ultimately resulted in huge losses due to governance issues, Sun Zhengyi still believes that the core bottleneck of the AI era lies in funding and infrastructure rather than models themselves. He is trying to convert OpenAI’s future demands into current capital market value.
SB Energy, under Sun Zhengyi’s management, has submitted its Sandbox prospectus. Although its data center revenue is currently zero, it still has approximately $439 billion in pending contracts with clients such as OpenAI (including 8.8GW capacity), and is seeking a valuation of over $50 billion. Nvidia provides up to $105 billion in credit support for this project and promises to reinvest an additional $1.5 billion at the time of IPO; Jensen Huang thereby extends the company’s financing role to the AI infrastructure sector. Meanwhile, Musk is driving SpaceX to establish a casting plant to address capacity shortages related to power and gas turbine blades. These three industry leaders are shifting their focus from model capabilities to solving issues related to land, electricity, funding, and hardware supply chains required for implementation.