(Incorporated in Texas)

Our Mission

To enable the new AI economy by developing, building and owning its critical physical infrastructure-delivering gigawatt-scale data center and power capacity to our customers with speed, reliability and cost discipline.

Our Company

We are unlocking the future of AI as a leading, integrated data center and power infrastructure company. We develop, construct and plan to operate gigawatt-scale data center facilities and we develop, construct, own and operate power generation assets. Our vertically integrated, power-first, community-focused model is purpose-built for the AI era. We believe this will enable the delivery of data center capacity with the scale, speed and reliability required to support our customers’ rapidly growing demand for compute.

SoftBank and OpenAI are strategic investors and customers at our data center campuses – Cosmos (SoftBank), Milam County (OpenAI) and PORTS-Pike Technology Campus (OpenAI) – and NVIDIA is a strategic investor and residual value guarantor at the PORTS-Pike Technology Campus. NVIDIA is also expected to become a holder of our Class N common stock in connection with this offering, subject to each of the closing of the Concurrent Private Placement and the settlement of the Prepaid Forward Contract.

AI is driving a generational shift in the global economy. Just as the electric power grid underwrote the modern industrial economy and the interstate highway system underwrote the consumer economy, we believe gigawatt-scale, power-integrated data centers will underwrite the AI economy. The scale of that shift is difficult to overstate: according to International Data Corporation (“IDC”), AI is projected to generate a cumulative global economic impact of $20 trillion by 2030. The compute required to train and operate the systems delivering that impact is growing at a pace without historical precedent, and every credible projection of AI progress – from model scale, to inference volume, to the emergence of autonomous agentic systems – depends on the deployment of physical infrastructure.

About SoftBank – Our Parent

Our founding sponsor and ultimate parent company is SoftBank, an AI-centric strategic investment holding company, founded in 1981 and headquartered in Tokyo, Japan, with investments spanning semiconductors, AI, robotics and digital infrastructure.  As of June 30, 2026, SoftBank had a net asset value of approximately $445.3 billion.

We founded our company with original backing from SoftBank in 2019. In recent years, SoftBank has focused its strategy on becoming the world’s top Artificial Super Intelligence (“ASI”) Platform Provider through investments in and the operation of businesses across four strategic pillars: AI models, AI chips, AI infrastructure, and physical AI.

Note: Net loss and revenue are for the 12 months that ended on June 30, 2026. 

(Note: SB Energy filed its S-1 for its IPO on Aug. 31, 2026, without disclosing the terms. Estimated proceeds are $100 million, a placeholder figure. Some IPO pros estimate that SB Energy’s IPO could raise up to $5 billion.)