Nvidia has agreed to guarantee as much as $105 billion in lease payments tied to a major OpenAI data center project in Ohio being developed by SoftBank backed SB Energy, according to Reuters.
The chipmaker will also invest $1.5 billion in SB Energy and secure up to 8 gigawatts of AI computing capacity at the site. SB Energy will build, own and operate the campus for OpenAI under a 20 year lease.
The project will initially provide 4.25 gigawatts of capacity in Pike County, Ohio, with operations expected to begin in phases starting in 2028. Nvidia will exclusively supply the AI computing infrastructure and provide credit support for land, power and construction tied to the initial development.
Nvidia also has an option to secure the remaining 3.75 gigawatts of capacity.
SoftBank and SB Energy plan to build at least 10 gigawatts of new power generation and invest $4.2 billion in regional grid infrastructure through a partnership with AEP Ohio.
OpenAI said the project is expected to create about 35,000 construction jobs through 2032 and roughly 2,500 permanent operating jobs.
Nvidia CEO Jensen Huang said OpenAI’s spending on Nvidia chips is expected to represent about $600 billion of computing capacity through 2030.
The investment follows a $1 billion commitment from OpenAI and SoftBank to SB Energy in January to expand data center and power infrastructure supporting the Stargate AI initiative.
Last week, Nvidia also partnered with six major financial institutions on computing financing platforms targeting more than $500 billion in third party funding for AI infrastructure.
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