SB Energy granted OpenAI warrants worth about $5.5 billion as it moved to secure the AI company as a data center tenant ahead of a planned initial public offering. Draft IPO documents show OpenAI had already invested in SB Energy before receiving the concession. SB Energy, backed by SoftBank, is expected to publicly file its IPO documents as soon as this week and could launch the offering as early as next month. The company is targeting fundraising of $5 billion to $7 billion. The documents also show SoftBank and OpenAI plan to become tenants at three SB Energy data centers, while a fourth 900-megawatt site in Scurry County, Texas, has not yet signed a customer.