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NVIDIA has agreed to support a major OpenAI data center project in Pike County, Ohio. The chipmaker may provide up to $105 billion in credit backing for the development. OpenAI plans to lease computing capacity from the site for 20 years. Meanwhile, SB Energy will build, own and operate the facility.
NVIDIA will back financing for the site’s land, power systems and building shell. The arrangement could help SB Energy raise tens of billions of dollars for construction.
The commitment depends on the first part of the facility becoming operational in 2028. NVIDIA disclosed the terms in a regulatory filing. Its support does not cover the AI chips themselves.
OpenAI would buy NVIDIA systems separately or arrange additional financing as construction nears completion. The site could eventually contain more than one million NVIDIA chips.
NVIDIA also plans to invest $1.5 billion in SB Energy. SoftBank Group established the energy company in 2019, and it now focuses partly on data center development.
The investment follows SB Energy’s $1 billion agreement with OpenAI in January. Morgan Stanley advised NVIDIA, while Goldman Sachs and JPMorgan advised SB Energy on the Ohio transaction.
OpenAI aims to lease as much as eight gigawatts of computing power at the PORTS-Pike Technology Campus. The company expects construction to run through 2032.
The first 800 megawatts should enter service in 2028. OpenAI will serve as the main customer under a 20-year lease with SB Energy.
OpenAI said the capacity will support growing demand for advanced artificial intelligence services. It also called the facility a “model for future next-generation supercomputer design.”
The initial commitment covers 4.25 gigawatts, according to details surrounding the agreement. OpenAI could later expand its use of the campus toward the full eight-gigawatt plan.
The project joins a broader wave of data center spending by NVIDIA, Google, Amazon and other technology companies. These firms are financing new computing sites for OpenAI, Anthropic and similar developers.
The Ohio site also needs large power supplies, construction funding and long-term customer commitments. NVIDIA’s backing gives lenders added protection while SB Energy develops those parts of the campus.
NVIDIA Chief Executive Jensen Huang rejected claims that the arrangement represents “circular financing". He said NVIDIA uses its “scale and long-term visibility” to support construction at selected sites.
Huang identified land, power and completed buildings as key limits on AI infrastructure deployment. NVIDIA expects to supply the computing systems used across the Ohio campus.
The company could generate between $150 billion and $200 billion in revenue from the site, according to Huang. This estimate assumes NVIDIA serves as the exclusive supplier of computing equipment.
OpenAI’s chip spending could reach $600 billion by 2030 if the company expands beyond the first 4.25 gigawatts. The figure depends on future construction, purchasing and financing decisions.
NVIDIA recently introduced financing platforms designed to connect AI infrastructure developers with Wall Street capital. Those platforms aim to assemble more than $500 billion for data centers and related projects.
NVIDIA shares moved slightly higher during Monday trading before closing lower. Investors assessed the commitment, financing structure and potential revenue tied to OpenAI’s expansion. Future expansion still depends on OpenAI’s separate future spending decisions.
Also Read: NVIDIA Taps BlackRock, Blackstone, KKR for $500 Billion Infrastructure Push
