Nvidia is in talks to guarantee roughly $250 billion of OpenAI's debt for a massive Ohio data center campus — and it may also bankroll $350 billion in chip purchases. The guarantee would cover OpenAI's long-term leases and the construction loans for the campus, but not chip purchases. The deal isn't done and could still fall apart.
SB Energy, the SoftBank-owned developer, is building the site. The campus has a planned capacity of 10 gigawatts, and total costs could exceed $500 billion. The first phase, around 800 megawatts, is expected to be completed in 2028. Once fully built, it would be the largest publicly announced data center project to date.
OpenAI is still losing money and doesn't have an investment-grade credit rating. With Nvidia providing the guarantee, SB Energy...