Kush Bavaria(@bavaria_kush):Whenever rents from this campus get quoted as comparables, remember how they were assembled. The tenant holds warrants in the landlord, and Nvidia backs defined portions of the lease and power payments.

2026.08.31 18:00

Whenever rents from this campus get quoted as comparables, remember how they were assembled. The tenant holds warrants in the landlord, and Nvidia backs defined portions of the lease and power payments.

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Wall St Engine@wallstengine

2026.08.31 09:43

SB Energy gave OpenAI warrants valued at $5.5B to help secure it as a major data-center tenant, according to draft IPO documents reviewed by WSJ. The SoftBank-backed company is preparing a potential $5B-$7B IPO and says it has nearly 9 GW of contracted compute capacity, despite having no data-center revenue yet. Its data-center backlog is expected to exceed $400B, with OpenAI signing 17 leases for ~8 GW at its planned Ohio campus. OpenAI invested $500M in SB Energy, while Nvidia has committed $3B and is also providing a residual-value guarantee tied to financing the Ohio buildout.

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