SoftBank Prepares US IPOs for Subsidiary SB Energy and Robotics Unit Roze

According to Reuters, SoftBank Group has hired investment banks for the U.S. IPOs of its two subsidiaries, renewable energy business SB Energy and artificial intelligence robotics company Roze. This is another initiative in SoftBank's recent acceleration of capital operations and a continuation of its deep strategic layout in the U.S. market.

Sources familiar with the matter have disclosed that Goldman Sachs and Morgan Stanley have been chosen as the main underwriters for SB Energy's IPO, which was formerly known as SB Energi. The IPO preparations for Roze are also underway, with Citi, JPMorgan, Mizuho, and Sumitomo listed as its underwriters. The listing timetable for both companies has not yet been finalized.

SoftBank has been continuously increasing its investment in the U.S. in recent years. In January of this year, Masayoshi Son announced a future investment of $100 billion in the U.S. over the next four years, focusing on the construction of AI infrastructure. In April, SoftBank announced an additional investment of about $5 billion in its supported AI chip company Ampere Computing and advanced a financing plan for a $30 billion AI data center.

Energy Business Supports AI Infrastructure Demand

SB Energy, established in 2019, initially focused on solar power generation and has now expanded its business scope to battery energy storage and natural gas power generation. Against the backdrop of surging power demands from AI data centers, the strategic value of the company is becoming more prominent.

It is understood that SB Energy's operational assets exceed 3.5 gigawatts, with over 20 gigawatts of projects under development. The company has previously secured financing from institutions such as Apollo Global Management and Ares Management.

Market analysis suggests that SB Energy's IPO will help SoftBank to make the value of its energy assets more explicit, while also providing an independent financing channel for the continuous expansion of AI infrastructure.

Robotics Company Roze Originated from Boston Dynamics Technology

Roze is a new robotic subsidiary established by SoftBank at the end of 2024, led by SoftBank's Chief Operating Officer Marcelo Claure. The company integrates the robotics technology and intellectual property that SoftBank had previously acquired from Boston Dynamics and other channels, positioning itself to develop commercial robots with artificial intelligence capabilities.

It is worth noting that SoftBank acquired Boston Dynamics in 2018 and later sold it to Hyundai Motor Group in 2020 but retained some technology assets. Roze is the new entity formed on this basis.

If Roze's IPO proceeds smoothly, it will become one of the few pure-play listed targets in the AI robotics field,有望 attracting market attention to the embodied intelligence track.

SoftBank Accelerates Capital Operations

In addition to the aforementioned two IPO plans, SoftBank's chip design company Arm went public on NASDAQ in 2023. SoftBank currently holds approximately 87% of the shares of Arm. At the same time, several companies in SoftBank Vision Fund's portfolio are in the stage of preparing for listing.

Reuters notes that SoftBank, Goldman Sachs, Morgan Stanley, Citi, and other related parties have not commented on the matter. The specific valuation and issuance size of the two IPOs have not been disclosed, and further developments are worth continued attention.