Nvidia weighs SB Energy investment for Ohio OpenAI data center project

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Nvidia SB Energy Ohio data center

Highlights

Nvidia is in advanced talks to invest up to $3 billion in SB Energy for a new OpenAI-focused data center project in Ohio.
The investment forms part of broader discussions involving Nvidia, SB Energy, and OpenAI to provide about $100 billion in credit support for the Ohio campus.
SB Energy aims to go public as early as next month, seeking at least $5 billion from the IPO, with Nvidia's investment partially tied to the listing.

Ohio project financing talks

As reported by CNBC, citing The Information, Nvidia is in talks to invest up to $3 billion in SB Energy, a SoftBank subsidiary developing a planned large-scale data center project in Ohio for OpenAI.

The report says the proposed investment forms part of discussions among Nvidia, OpenAI and SB Energy on providing about $100 billion in credit support for the Ohio campus. Nvidia has discussed investing half of the $3 billion when the Ohio project agreement is signed, with the remaining half tied to SB Energy's planned initial public offering.

Reuters says it cannot immediately verify the report. Nvidia and SB Energy do not immediately respond to requests for comment outside regular business hours.

AI infrastructure and listing plans

SB Energy is aiming to go public as soon as next month and could raise at least $5 billion in the IPO, the report adds. The company, which is also backed by OpenAI, develops large-scale power and data center infrastructure projects.

Founded in 2019, SB Energy is building several data center campuses to support rising demand linked to AI workloads. The discussions highlight how chipmakers, developers and AI companies are combining financing and infrastructure plans as computing demand rises.

The Wall Street Journal reported on Friday that Nvidia has revised its plans for supporting the proposed OpenAI data center project in Ohio. Under that report, Nvidia is now expected to initially guarantee less than $120 billion, down from the $250 billion previously discussed.

In our earlier coverage of OpenAI’s executive exits and IPO risks, we examined how repeated leadership turnover and rapid internal reorganizations were raising concerns among staff and investors as the company prepared for a potential public listing. We also noted OpenAI’s strong run-rate revenue growth and the $852 billion valuation implied by its employee share buyback, even as questions persisted about stability, strategy, and safety-related changes.

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