Nvidia agreed to provide more than $105 billion in financing for a new 8-gigawatt AI data center that OpenAI will lease in Pike County, Ohio, the companies announced August 17. The facility, called the PORTS-Pike Technology Campus, will be built and owned by SB Energy, a SoftBank unit, and will run exclusively on Nvidia chips.
The first phase brings 4.25 gigawatts of computing capacity online in 2028, with an option to add another 3.75 gigawatts. Nvidia is also investing $1.5 billion directly in SB Energy and pledging $4.2 billion toward regional grid upgrades with utility AEP Ohio. OpenAI signed a 20-year lease for the site, built on the grounds of a decommissioned uranium enrichment plant.
CEO Jensen Huang rejected comparisons to circular financing, saying Nvidia only guarantees lease and power payments if OpenAI defaults, not the company's broader spending. Some analysts remain wary: OpenAI faces roughly $750 billion in infrastructure commitments over the next four years while still operating at a loss.