Nvidia agrees to back OpenAI Ohio data center with up to $105 billion

Nvidia has agreed to provide residual-value guarantees of up to $105 billion to support the first phase of a large data-center campus in Pike County, Ohio, that OpenAI will lease for 20 years.

The campus, developed by SoftBank-owned SB Energy and known as PORTS-Pike, is designed to deliver up to 8 gigawatts of IT capacity. The first 800 megawatts are expected online in 2028. Nvidia’s backing covers 4.25 gigawatts in the initial phase, with an option on the remaining capacity.

Jensen Huang, Nvidia’s chief executive, said the company is securing long-lived infrastructure for its compute so that OpenAI can deploy AI systems that can be upgraded with each new generation of chips. Nvidia will be the exclusive chip supplier for the first half of the site and is investing $1.5 billion in SB Energy.

OpenAI has stated it will pay only for completed capacity as it becomes available. Nvidia’s arrangement backs the residual value of the finished buildings rather than OpenAI’s rent payments directly. If OpenAI were to leave, SB Energy would first seek a replacement tenant or sell the facilities before Nvidia’s guarantee would apply, capped at $105 billion.

The deal is one of the largest infrastructure-financing commitments Nvidia has made in support of AI labs. Earlier discussions had contemplated backing of up to $250 billion. Huang has previously estimated that OpenAI’s overall Nvidia compute commitments through 2030 could reach roughly 12 gigawatts.