Four Points News has made numerous attempts to interview SB Energy officials regarding the details of the site becoming a data center, but to no avail.
By LYNETTE HAALAND, Four Points News
Earlier this week in SEC filings, SB Energy refers to its project at the former 3M site dozens of times as a data center – despite statements from the company’s spokesperson repeatedly suggesting it was not building a data center.
SB Energy has shared nothing with Four Points News or the local community about its data center plans for the Four Points campus although it has been asked multiple times over the past weeks and months.
SB Energy filed for an initial public offering with the Securities and Exchange Commission on August 31, 2026.
“We are progressing our first wave of data centers at the Cosmos Technology Campus, in Austin, Texas,” the SEC document states.
Throughout the SEC filing, Cosmos Technology Campus is the name given to the former 3M site. On March 20, 2026, SE Cosmos LLC purchased the Highpoint 2222 property at 6801 River Place Blvd. from Karlin Real Estate. SE Cosmos is a subsidiary/entity tied to SB Energy.
The SEC document indicates that the permits are in place for the construction that is underway in Four Points.
“For Cosmos, Austin Energy is completing substation and transmission upgrades necessary for grid connection… Permitting requirements and timelines vary by project and jurisdiction and may require federal, state and local-level approvals, including environmental permits, zoning and land use approvals, and building permits. The Cosmos project has obtained all material permits necessary for construction.”
The SEC filings state that SB Energy’s first two data center projects are under construction – the Cosmos Technology Campus and Milam County Data Center.
“Our first data center projects, Cosmos and Milam County, are under construction, and our remaining data center projects, including the PORTS-Pike Technology Campus, remain under development,” according to the document.
The SEC documents cite a 50 megawatt capacity in the first phase.
“We expect to first achieve first phase revenue at the Cosmos Technology Campus, a facility in Travis County, Texas, with approximately 50 MW of critical IT capacity.”
On a larger perspective, the SB Energy prospectus shares: “We believe we have one of the largest Data Center Contracted Portfolio capacities among data center companies as of the date.”
SB Energy has lined up investors and customers at the three data center campuses it refers to in the SEC filing.
“SoftBank and OpenAI are strategic investors and customers at SB Energy’s 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.”
The filing indicates: “The lease provides for a 15-year initial term with an affiliate of SoftBank as tenant… Expected aggregate rent under the Cosmos lease over its 15-year initial term is approximately $2.5 billion.”
The campus in Four Points has 1.2 million-square-feet that 3M used as office and laboratory space. It sits on 156-acres and has been empty since 2019.
In past interviews, the SB Energy spokesperson said the local site would remain a research and development site. The SEC filing does not mention R&D work being done there, but that does not mean it won’t be.
SB Energy shared with Four Points News on August 25 that Graphcore – an advanced AI chip and systems company founded in the UK and a wholly owned subsidiary of SoftBank Group – has located its U.S. engineering headquarters at the former 3M site in Four Points.
The SB Energy spokesperson said this last week: “Regarding the site usage – it still remains planned as an R&D Center. Per building application to the city of Austin, it is permitted as an office and lab space as intended use.”
The statement does not say anything about a data center but SB Energy is clearly gearing toward a future that fuels AI demand.
The SEC filings state:
“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.”
