Nvidia is in advanced discussions to provide a financial guarantee of approximately $250 billion for OpenAI, potentially enabling the artificial-intelligence company to secure financing for an enormous data-center project planned in southern Ohio. The arrangement would represent an extraordinary expansion of Nvidia’s role in the AI industry, transforming the chipmaker from a hardware supplier and investor into a major financial supporter of the infrastructure needed to develop future AI systems. The negotiations remain ongoing, and the final terms could still change.
The proposed data-center campus would eventually have a capacity of roughly 10 gigawatts, making it one of the largest computing facilities ever announced. It is being developed by SB Energy, a subsidiary of Japan’s SoftBank Group, and its total cost could exceed $500 billion when the buildings, energy systems and advanced computing equipment are included. The first phase is expected to provide approximately 800 megawatts of capacity and could begin operating in 2028.
Under the potential arrangement, Nvidia would use its financial strength to reassure banks and other lenders that OpenAI could meet its long-term obligations. OpenAI does not have an investment-grade credit rating, making it more expensive and difficult for the company to borrow the enormous sums required for such a project. A guarantee from Nvidia could reduce lenders’ risk, improve the financing terms and help OpenAI enter a multiyear lease for the facility.
The proposed guarantee would not necessarily cover the Nvidia chips required to operate the data center. Nvidia is reportedly considering a separate financing arrangement of as much as $350 billion to help OpenAI purchase the processors and related systems needed for the complex. That structure would deepen the financial relationship between the two companies while ensuring that Nvidia remains the principal technology supplier for one of the world’s most ambitious AI projects.
The Ohio development forms part of a broader U.S.-Japan investment initiative. The campus would be supported by a vast new power system developed by SoftBank and SB Energy, including substantial natural-gas generation. The U.S. Department of Energy says the plan includes 10 gigawatts of new generation, at least 9.2 gigawatts of which would come from natural gas, alongside additional transmission infrastructure.
For OpenAI, the project could provide greater control over its computing capacity. The company has historically relied heavily on outside cloud providers, including Microsoft, Amazon and Oracle. Leasing a facility of this scale would reduce its dependence on those partners and give it more direct access to the computing resources needed to train and operate increasingly powerful models.
However, the discussions also highlight growing financial risks within the AI industry. Infrastructure projects now require hundreds of billions of dollars, while many AI companies remain unprofitable and depend on continued investor confidence. Nvidia’s proposed guarantee would expose it to significant obligations if OpenAI could not meet its commitments or if demand for AI computing weakened.
Overall, the negotiations illustrate how the AI boom is reshaping relationships among technology companies, lenders, governments and energy providers. Nvidia would not simply sell chips to OpenAI; it would help make the entire project financially possible. The deal could accelerate the construction of unprecedented computing capacity, while also raising important questions about financial concentration, circular investment and the enormous economic resources required to compete at the frontier of artificial intelligence.
