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Nvidia weighs financing backstop for OpenAI data center campus
The talks involve potential guarantees and separate chip financing for a proposed 10-gigawatt campus in southern Ohio that could cost more than $500 billion, according to coverage of the deal structure.
Nvidia is reportedly in discussions to backstop as much as $250 billion in financing tied to a proposed 10-gigawatt data center campus in southern Ohio, with OpenAI listed as a prospective tenant, according to The Wall Street Journal and summarized by Yahoo Finance.
The planned campus, developed by SoftBank’s SB Energy, could cost more than $500 billion including hardware, Reuters reported. The same coverage also said Nvidia is discussing separate financing of up to $350 billion for chips at the site, with the discussions described as negotiations rather than completed commitments.
A financing guarantee could allow lenders to underwrite an OpenAI lease using Nvidia’s stronger credit, while separate chip financing could help fund purchases of Nvidia accelerators. Investors have been focused on how that arrangement could shift risk, including potential exposure to customer credit and project execution.
Microsoft’s relationship would be through OpenAI cloud spending, not broad AI-sector exposure. The cited materials point to an April 27 amended agreement that keeps Microsoft as OpenAI’s primary cloud partner, with OpenAI products generally shipping first on Azure unless Microsoft cannot and chooses not to support required capabilities, plus an October 2025 agreement described as adding an incremental $250 billion commitment by OpenAI to buy Azure services.