Nvidia Backs OpenAI Ohio Campus With $105B Guarantee After Scaling Back $250B Proposal
Infra45d agoOpenAI signed a 20 year lease with SB Energy at the PORTS-Pike Technology Campus, securing about 8 GW of IT capacity. SB Energy will build, own and operate the southern Ohio site, which will host only Nvidia AI compute infrastructure. Nvidia also agreed to invest $1.5B in SB Energy and provide credit support tied to the initial 4.25 GW buildout, with the first 800 MW due in 2028.
Nvidia's obligation is capped at $105B if OpenAI defaults and SB Energy cannot relet or resell the site at a similar value. Earlier versions of the financing had contemplated a guarantee of roughly $250B for the full 10 GW campus, but the final structure covers only the first phase. OpenAI said the 6 year buildout through 2032 is expected to create 35,000 construction jobs and 2,500 long-term operating jobs.
Key sources
- SOURCE@nvidia“The campus project will create tens of thousands of Ohio jobs and invest hundreds of millions in the community.”x.com
- SOURCE@markchen90“sign up for 4+ GW of capacity.”x.com
- SUPPORT@firstadopter“The first 800 megawatts are expected to become available in 2028 largely using existing AEP infrastructure.”x.com
- SUPPORT@reuters“up to $105 billion guarantee”x.com
- SUPPORT@anissagardizy8“NVDA only steps in to make payments if OAI defaults and the site cannot be released or resold for a similar valuation, up to $105B (on the first phase)”x.com
- SOURCE@wsj“expected to be one of the largest to date”x.com
- SUPPORT@firstadopter“opportunity represents roughly $600 billion of NVIDIA compute through 2030”x.com
- SUPPORT@shanumathew93“Nvidia would pay any difference in the value, up to $105 billion if the initial phase is completed”x.com