SoftBank Group Corp.’s stocks soared nearly 20% in Tokyo after reports said two companies backed by the Japanese investor - OpenAI and SB Energy Corp. - are preparing for US initial public offerings.
OpenAI is preparing to file for an IPO in the coming weeks and is targeting a public debut sometime in the fall, according to a person familiar with the matter. The ChatGPT creator is working with Goldman Sachs and Morgan Stanley to make a a confidential IPO filing as soon as Friday, through the exact timing remains uncertain, the person said.
Separately, SB Energy, which develops energy infrastructure for data centers, said Wednesday that it would file a confidential draft registration statement for a proposed IPO in the US.
SoftBank is one of the largest OpenAI shareholders with an about 13% stake. SB Energy has raised more than $1.8 billion over the past year from SoftBank, OpenAI and Ares Management to fund its data center expansion plans.
The surge, the biggest intraday gain since March 2020, reverses losses from the past week after the company’s earnings. Investors raised questions about the transparency and collateral value of SoftBank’s OpenAI-related assets.
