A $250 billion AI boost? Nvidia reportedly in talks to back OpenAI’s Ohio data centre project

Published 27 July 2026 · tech

Nvidia is in discussions to provide around $250 billion in financial guarantees for OpenAI as part of a massive data centre initiative in southern Ohio

Nvidia is in discussions to provide around $250 billion in financial guarantees for OpenAI as part of a massive data centre initiative in southern Ohio, marking one of the largest financing efforts yet tied to the artificial intelligence boom in the United States. According to a Wall Street Journal report citing people familiar with the matter, Nvidia’s backing would help OpenAI lease a 10-gigawatt data centre campus being developed by SoftBank. The overall project, including the advanced AI chips required to power the facilities, could exceed $500 billion, making it the biggest data centre development announced so far. The electricity required for the complex would come from a power project controlled by the US government and financed separately by Japan under a recent bilateral trade agreement. The report said Commerce Secretary Howard Lutnick is playing a key role in determining which companies will receive access to the available power.

Also Read | Nvidia CEO says Taiwan prevented Japan from taking over US semicon industry Nvidia’s proposed guarantees would strengthen SoftBank’s ability to secure financing at lower borrowing costs. Since OpenAI is an unprofitable private company without an investment-grade credit rating, lenders are likely to view Nvidia’s backing as a significant credit enhancement. The Journal reported that OpenAI has been in advanced negotiations to lease the site for several weeks. OpenAI is believed to be the leading contender for the project, although Anthropic, Microsoft, and Google have also held discussions with Lutnick in recent weeks regarding access to the location, according to the WSJ report. AI firms seek reliable access to high-performance chips, electricity With demand for computing power continuing to surge, AI companies are aggressively seeking reliable access to high-performance chips and electricity. As a result, government-supported infrastructure projects with guaranteed power supplies have become increasingly valuable.

Under the proposed structure, Nvidia would guarantee multiple financing vehicles designed to reassure lenders that funding for the project is secure, the report said. The reported $250 billion guarantee would cover the lease obligations and construction-related debt, but would not include the Nvidia processors destined for the facility. The chipmaker, which has already invested about $30 billion in OpenAI, is also discussing a separate financing arrangement for the AI chips, a deal that could reportedly be worth another $350 billion. Interconnected financing structures spark concerns Such interconnected financing structures have sparked concerns among some market observers, who warn that the AI sector could become vulnerable if investor enthusiasm weakens or industry growth slows. The planned campus would require approximately 10 gigawatts of electricity—enough to supply power to several million homes—and would take years to complete. According to the WSJ report, the first phase, delivering roughly 800 megawatts of capacity, is expected to be operational in 2028.