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Nvidia's planned OpenAI Ohio guarantee falls to under $120bn

Nvidia is now expected to initially guarantee less than $120 billion for OpenAI's planned Ohio data centre, down from $250 billion, a revision that puts financing for the 10GW campus in focus, the Wall Street Journal reported.

Grace OkonkwoGrace OkonkwoAI, models and technology
AI & modelsAnalysisGrace OkonkwoPublished: 6 November 20264 min readSources 36
Nvidia's planned OpenAI Ohio guarantee falls to under $120bn

Guarantee revised to under $120bn

The Wall Street Journal reported on Friday that Nvidia has revised its plans to support a proposed OpenAI data centre project in Ohio and is now expected to initially guarantee less than $120 billion, down from the $250 billion previously discussed. The project as a whole could exceed $500 billion, including Nvidia chips intended for the site, Data Centre Magazine reported, citing the Journal.

People familiar with the discussions told the Journal that OpenAI had been in advanced negotiations to lease the site for several weeks. The guarantee would support OpenAI's plans to lease capacity at a 10GW campus that SoftBank is developing in southern Ohio, Data Centre Magazine reported. If completed, the project would rank among the largest data centre developments announced to support AI workloads, the publication said.

Why the guarantee matters

Data Centre Magazine reported that OpenAI is an unprofitable private company, that Nvidia backing could help it obtain debt on more favourable terms, and that the guarantee would strengthen SB Energy's ability to secure financing by reducing lending risk. SB Energy is the SoftBank subsidiary developing the Ohio project.

Business Times reported that SB Energy, which is also backed by OpenAI, develops large-scale power and data centre infrastructure projects. Founded in 2019, the company is building several data centre campuses to support rising demand tied to artificial intelligence workloads.

The US Department of Energy says SoftBank, alongside SB Energy, plans to build at least 9.2GW of natural gas generation to supply 10GW of data centre capacity. Parts of the agreement have already been announced through US President Donald Trump's US-Japan Strategic Trade and Investment Agreement, which includes $33.3 billion in Japanese funding.

Equity and IPO terms

Nvidia is also in talks to invest as much as $3 billion in SB Energy, The Information reported on 15 August, citing people familiar with the discussions. The proposed investment is part of talks on providing around $100 billion in credit support for the Ohio campus.

According to The Information, Nvidia has discussed investing half of the $3 billion when the Ohio deal is signed and the other half as part of SB Energy's planned initial public offering. SB Energy is aiming to go public as soon as September and could raise at least $5 billion.

Nvidia and SB Energy did not immediately respond to requests for comment outside regular business hours, Reuters reported.

What remains unconfirmed

The reported guarantee has not been confirmed by Nvidia or SB Energy.

Comments 0

Sources

36
  1. 01NVIDIA Talks: Backing OpenAI's US$500bn Ohio AI Data CentreEN
  2. 02CoreWeave Says Nvidia Has Its Back on Data Center FinancingEN
  3. 03Nvidia in talks to invest US$3 billion in SoftBank subsidiary for OpenAI data centre project: reportEN
  4. 04Nvidia weighs debt guarantee for Nscale West Virginia AI data centerEN
  5. 05Nvidia Weighs Billions in Credit Guarantees to Support Nscale's $45bn Anthropic Data Centre DealEN
  6. 06Nvidia Expands AI Investment Network with Billions in Credit Support for Data Centre ProjectsEN
  7. 07NVIDIA & Japan: The World's First National AI Infrastructure - Data Centre MagazineEN
  8. 08How NVIDIA and SK Telecom are Growing AI Computing Capacity - Data Centre MagazineEN
  9. 09Nvidia weighs guaranteeing financing for Nscale’s planned West Virginia data centerEN
  10. 10Nvidia Weighs Billions in Debt Guarantees for Nscale Data CenterEN
  11. 11Nvidia in talks to give credit support for Nscale's deal with AnthropicEN
  12. 12OpenAI is stepping back from NDAs for data center projectsEN
  13. 13Google’s first Wyoming data centre will run on gas with carbon captureEN
  14. 14Nvidia in talks to give credit support for Nscale's deal with Anthropic, The Information reports - CNAEN
  15. 15 Chinese AI lab Moonshot reportedly looked at European data centers to access Nvidia chips, report claims EN
  16. 16Brazilian Credit Guarantor Fund Data Breach Affecting PII and Payout DataEN
  17. 17Aluminum–Air Generators for Data Centres Face a Metal Logistics TestEN
  18. 18 Nvidia tells data center operators to limit business from Chinese customers with new global restrictions, report claims EN
  19. 19NVIDIA Considers Credit Guarantee for Nscale Data Center Project in West VirginiaEN
  20. 20Google to serve as credit backstop for TeraWulf data center in KentuckyEN
  21. 21Iterated creation, grading, and revision of data science projects by language modelsEN
  22. 22Meta warns that election backlash against data centers could make AI expansion harderEN
  23. 23Enforcement, pricing, and the tax credit windowEN
  24. 24Activists across Europe prepare two days of protests against datacentresEN
  25. 25Nvidia Weighs Cosigning Debt For Nscale's West Virginia AI Data Center - Startup FortuneEN
  26. 26Nvidia weighs playing the cosigner for Nscale’s AI data center in West Virginia - TechCrunchEN
  27. 27Bank of England queries speculative data center loans tied to projects without tenantsEN
  28. 28Renewable Innovations joins US DOE lab project on fuel cell power for AI data centersEN
  29. 29Nvidia weighs billions in credit guarantees for Nscale’s West Virginia AI campusEN
  30. 30Voters rejected AI data centers over resource concerns. Here's why measuring water usage is hardEN
  31. 31Voters rebuff data centers in every ballot measure except one during the 2026 midtermsEN
  32. 32Dropbox acquires Tigris Data for $350M to bolster its AI infrastructureEN
  33. 33Electric cars are about to overtake petrol in the UK, data showsEN
  34. 34OpenAI pledges to halt NDAs in new data center policy proposal after election rebukeEN
  35. 35The Results Are In: Voters Hate Data CentersEN
  36. 36Nvidia, Municipal Leaders Frame AI as Critical Urban InfrastructureEN

All figures and quotations in this text come from the sources listed below.

Content prepared by the editorial team with AI assistance.

Grace Okonkwo

Grace Okonkwo

AI, models and technology

Grace Okonkwo covers AI, models and technology for FLASH24, working from primary sources such as model cards, API documentation and benchmark papers rather than vendor summaries. She checks training data provenance, evaluation conditions and reported scores against the underlying datasets before any figure reaches print. She interviews researchers and engineers directly, tracks release calendars from major labs, and compares successive model versions on the same tests. Her own self-hosting, home-network and documentation-reading habits feed straight into that desk, since she tests tools on her own hardware first. She does not publish benchmark claims without a reproducible method.

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