Nvidia backs Ohio OpenAI data center with $105 billion credit guarantee and $1.5 billion SB Energy stake

Guarantee structure and equity terms

Nvidia filed regulatory documents with the US Securities and Exchange Commission on 17 August 2026 detailing up to $105 billion in credit backing for a data center development in Ohio. The arrangement operates as a residual value guarantee tied to completed structures rather than direct rent obligations, reducing Nvidia's exposure from the $250 billion backstop discussed in July. Under the contractual terms, SB Energy must first attempt to relet or sell the facilities if OpenAI defaults, leaving Nvidia responsible solely for any remaining financial shortfall. OpenAI agreed to indemnify and reimburse Nvidia for any payouts under the guarantee, which expires after 20 years, upon an early lease termination by OpenAI, or if OpenAI obtains an investment-grade credit rating. In addition to the credit agreement, Nvidia will invest $1.5 billion in SB Energy, joining shareholders SoftBank Group and OpenAI. SoftBank previously sold $5.8 billion in Nvidia equity in November to fund artificial intelligence ventures.

Site location and power generation

The development occupies the PORTS-Pike Technology Campus in Pike County, southern Ohio, situated on US Department of Energy land formerly used to enrich uranium for the US nuclear arsenal and naval submarines. To supply electricity to the campus, SB Energy plans to construct a 9.2-gigawatt natural gas power plant at an estimated cost of $33 billion. Construction costs for natural gas facilities have risen 66% over the past two years according to BloombergNEF, with future fuel demand expected to compete against export terminals. SoftBank and SB Energy will also invest more than $4 billion into regional utility networks to establish at least 10 gigawatts of total new generation. Total development costs across the entire project could reach $500 billion.

Capacity schedule and hardware commitments

OpenAI agreed to a 20-year lease for the Ohio facility, with initial capacity of 800 megawatts scheduled to go online in 2028. The campus is designed to reach 4.25 gigawatts during its initial phase, with an option for Nvidia to support an additional 3.75 gigawatts, yielding a total capacity of 8 gigawatts by 2032. Nvidia will act as the exclusive hardware supplier across the site, which will run on its computing chips.

Jensen Huang explained the motivation behind the infrastructure agreement:

Now is the time to scale the AI infrastructure that will power the next industrial revolution.

Sam Altman described the computational capacity planned for the Ohio facility:

This is going to be a huge site, with enough computing power to help millions of people use AI to do things we can only start to imagine today.

Economic impact and local commitments

OpenAI estimates the project will generate 35,000 temporary construction positions over a six-year buildout and 2,500 permanent operational jobs. To address regional impacts, OpenAI committed $40 million to local municipal priorities alongside $84 million to fund ChatGPT tools for college students throughout Ohio. The infrastructure commitments follow broader public sensitivity around electricity and resource consumption, with a March Gallup poll showing that over 70% of Americans oppose building data centers near their residences. When fully built to 8 gigawatts, the complex will consume the equivalent electricity of approximately six million American homes.