Nvidia is negotiating roughly $250 billion in financing guarantees to back OpenAI's lease of a planned 10-gigawatt data center campus in southern Ohio. The facility, being built by SoftBank's energy subsidiary, would anchor an AI expansion estimated to exceed $500 billion in total cost, including chip procurement. The guarantee would cover the lease and associated debt but not hardware.
The chipmaker is also exploring up to $350 billion in financing for OpenAI's processor purchases. An initial phase delivering about 800 megawatts is targeted for completion by 2028. Power allocation for the project falls under US government control, with Japan providing separate funding through a trade agreement, and Commerce Secretary Howard Lutnick is personally directing distribution decisions.
The Ohio site has drawn broad industry interest. Anthropic, Microsoft, and Google have all met with Lutnick regarding the project. The negotiations follow July discussions between tech leaders and South Korean officials exploring roughly $950 billion in collaborative ventures, including a semiconductor supply commitment from SK Group.