Nvidia explores major financing support for OpenAI data centre project
The expansion of AI data centres is driving unprecedented financing discussions as companies compete to secure advanced computing resources.
NVIDIA is reportedly discussing a financial guarantee of roughly $250 billion to support OpenAI’s potential lease of a large AI data centre campus being developed by SoftBank Group’s SB Energy in southern Ohio.
The proposed guarantee would cover OpenAI’s lease commitments and debt financing for the project, according to the Wall Street Journal. NVIDIA is separately considering financing for OpenAI’s purchases of its chips, which could be worth up to $350 billion.
NVIDIA’s backing could help SB Energy raise debt on more favourable terms because OpenAI, an unprofitable private company, does not have an investment-grade credit rating. The arrangement would also secure long-term demand for Nvidia’s AI chips.
SB Energy is developing the 10-gigawatt PORTS Technology Campus on land leased from the US Department of Energy in Pike County. The wider project could cost more than $500 billion, including the chips installed at the campus, while an initial phase providing about 800 megawatts of capacity is reportedly expected by 2028.
OpenAI is said to be in advanced talks to lease capacity at the site. Anthropic, Google and Microsoft have also reportedly discussed access to the project with US Commerce Secretary Howard Lutnick, who is involved in allocating its federally controlled power.
The companies have not confirmed the financing discussions. Reuters said it could not independently verify the Wall Street Journal report, while Nvidia, OpenAI and the US Department of Commerce did not immediately respond to requests for comment.
Why does it matter?
The proposed arrangement illustrates how AI infrastructure is creating deeper financial ties between model developers, chipmakers, data centre operators and governments. A hardware supplier guaranteeing its customers’ infrastructure commitments could expand access to computing capacity while also increasing financial interdependence and market concentration across the AI supply chain.
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