OpenAI signed 17 leases for approximately 8 GW of compute capacity at a planned Ohio campus under an agreement with SoftBank-backed SB Energy. The infrastructure provider issued warrants valued at an estimated $5.5 billion to the AI developer to secure it as a primary tenant, according to draft IPO documents reviewed by the Wall Street Journal. SB Energy is preparing a potential public offering to raise $5 billion to $7 billion.
The company holds nearly 9 GW of contracted compute capacity and a data center backlog expected to exceed $400 billion despite having zero data center revenue to date. Nvidia committed $3 billion to the venture and provided a residual-value guarantee tied to the Ohio buildout financing. OpenAI also invested $500 million in the firm.
Key sources
- SUPPORT@wesroth“NVIDIA committed $3B and is also providing a residual-value guarantee tied to the buildout”x.com