Japan and Korea AI Infrastructure: SoftBank, Sakura, SK — 2026-09-02
SoftBank-backed SB Energy has filed for a US IPO, revealing a $5.5 billion warrant deal to secure OpenAI as a long-term data center tenant, while South Korea’s SK Group finalized the sale of a 49% stake in its AI data center arm to KKR and IMM for $2.2 billion. These moves highlight the aggressive capitalization strategies and infrastructure consolidation occurring across Northeast Asia’s AI sectors.
Japan and Korea AI Infrastructure: SoftBank, Sakura, SK — 2026-09-02
Top developments
SoftBank-Backed SB Energy Files for IPO with Massive OpenAI Tie-Up
SB Energy, the data center venture backed by SoftBank, filed for a US IPO on September 1, 2026, disclosing a 66.4% revenue jump in the first half of 2026. A key revelation in the filing is that SB Energy offered OpenAI $5.5 billion in stock warrants to secure long-term data center tenancy, deepening financial ties between the two entities ahead of the public listing. This move is critical for SoftBank’s global "Stargate" ambitions and its domestic Japanese expansion, as it seeks to lock in anchor tenants for its massive capacity builds.
SK Group Sells 49% Stake in AI Data Center Unit for $2.2 Billion
On August 27, 2026, SK Group announced it would sign a definitive agreement to sell a 49% stake in its artificial intelligence data center business to a consortium led by KKR and IMM Investment. The transaction values the asset at approximately $2.2 billion, marking a significant monetization of SK’s early infrastructure investments. This sale provides SK Group with substantial capital to reinvest in next-generation GPU clusters and supports the broader Korean push to expand national AI compute capacity under government subsidies.
Samsung SDS Rises on Strong AI Data Center Demand Forecasts
On August 31, 2026, Hanwha Investment & Securities raised its target price for Samsung SDS from 290,000 KRW to 300,000 KRW, citing secured demand for its AI data center services. The analyst report noted that Samsung SDS has already locked in significant contracts for GPU-as-a-Service (GPUaaS) and infrastructure expansion, positioning it as a key beneficiary of Korea’s national AI computing initiatives. This sentiment reflects growing investor confidence in Korean IT service providers’ ability to monetize AI infrastructure beyond traditional outsourcing.
Local view
In Japan, local media outlets like Impress Watch have highlighted that Japan's AI data center buildout is finally accelerating in 2026, driven by METI policies and private sector commitments from giants like SoftBank and Sony. The narrative focuses on overcoming historical delays in power supply and regulatory hurdles to compete globally.
In South Korea, Hankyung (Korea Economic Daily) reports that the AI data center sector is transitioning from pure investment phases to monetization, with investors closely watching which companies can successfully convert infrastructure into recurring revenue streams. The focus is shifting towards operational efficiency and securing long-term contracts with major AI developers.
Context & numbers
- Global Capacity: As of September 2026, tracked AI data-center projects show the U.S. leading with 104.4 GW of capacity, while South Korea holds a significant position among the top tier nations alongside France and Brazil.
- Korean Investment Plans: Major Korean conglomerates including SK Group, GS Group, and Naver are planning to invest approximately 550 trillion won in South Korean AI data centers, targeting an initial capacity of 8.4 GW.
- Japanese Investment: NTT Data is reportedly eyeing a ¥1.5 trillion ($9 billion) outlay to add roughly 750 megawatts of capacity in Japan over the next seven years to meet AI demand.
On the radar
- SB Energy IPO Timeline: Watch for the final pricing and trading debut of SB Energy on US exchanges, which will serve as a bellwether for investor appetite in SoftBank’s broader AI infrastructure strategy.
- METI Subsidy Disbursements: Further details are expected on the disbursement of the ¥72.5 billion subsidy program approved by METI for companies like Sakura Internet and KDDI to expand domestic GPU cloud capacity.
- SK Horizon Launch: Details on the operational structure and initial client portfolio of SK Horizon, the newly spun-off AI data center firm, will likely emerge in late September.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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