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NVIDIA may invest as much as $3 billion in SoftBank-backed SB Energy as discussions advance around financing major AI infrastructure. The talks also involve OpenAI and roughly $100 billion in credit support for a proposed Ohio project.
The information reported that NVIDIA could invest about $1.5 billion when the Ohio project agreement takes effect. Another $1.5 billion could come through SB Energy’s planned initial public offering. Meanwhile, SB Energy is targeting an IPO as soon as September. The company could seek to raise at least $5 billion through the offering.
The potential equity investment represents only one part of the wider financing structure around the Ohio development. NVIDIA previously discussed guaranteeing as much as $250 billion in project financing. The Wall Street Journal later reported that NVIDIA could initially guarantee less than $120 billion. Under the revised approach, NVIDIA could support the first 5 GW of the planned campus.
The overall development could eventually reach 10 GW of data center capacity. Earlier estimates placed the project’s total investment requirement at no less than $500 billion. NVIDIA could then decide whether to support later phases after backing the first 5 GW. That approach would limit its initial commitment while development proceeds in stages.
OpenAI and SoftBank each agreed earlier this year to invest $500 million in SB Energy. At the same time, the company continues developing large energy projects and data centers. SB Energy also secured a role to build and operate a 1.2 GW data center in Texas. The facility connects with OpenAI’s broader Stargate infrastructure initiative.
Because SB Energy develops both energy and computing facilities, its operations cover two major requirements for AI expansion. Data centers need substantial electricity alongside growing computing capacity.
In turn, those projects could deepen SB Energy’s involvement in infrastructure supporting AI systems. They also place the company alongside OpenAI, SoftBank and NVIDIA in large-scale development plans.
Also Read: NVIDIA Success Story: Remarkable Growth from Video Games to AI
NVIDIA has also joined Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR in financing platforms focused on AI infrastructure. Together, those plans seek to mobilize more than $500 billion. Chief Executive Jensen Huang said NVIDIA has the option to backstop as much as $125 billion. That amount would equal 25% of potential deals under the financing plans.
Reuters reported that the participants have not disclosed individual commitments or deployment schedules. The financing could give customers another way to fund NVIDIA-based computing systems.
At the same time, NVIDIA would gain greater financial exposure to data centers that purchase its hardware. How much exposure could NVIDIA accumulate as the same AI expansion drives both chip sales and infrastructure investments?
NVIDIA already holds a large equity position in Intel. It invested $5 billion through a private placement completed in December 2025. The company bought about 214.8 million Intel shares at $23.28 each. By the end of June, NVIDIA’s Intel stake had reached a value of almost $30 billion.
NVIDIA’s potential $3 billion SB Energy investment would add to its expanding financial role in AI infrastructure. The talks also include major credit support for Ohio development, while NVIDIA continues backing broader financing platforms and holds substantial investments in technology companies.
