NVIDIA intends to endorse OpenAI with US$250 billion: to help it leverage the 10-gigawatt super data center in Ohio. NVIDIA is negotiating with OpenAI on a deal large enough to write into the history of the AI ​​boom - according to people familiar with the matter, the former plans to provide the latter with a financing guarantee of approximately US$250 billion.

NVIDIA intends to endorse OpenAI with US$250 billion: to help it leverage the 10-gigawatt super data center in Ohio. NVIDIA is negotiating with OpenAI on a deal large enough to write into the history of the AI ​​boom - according to people familiar with the matter, the former plans to provide the latter with a financing guarantee of approximately US$250 billion. With NVIDIA's credit endorsement, OpenAI will be able to lease a large-scale data center project with a capacity of up to 10 GW developed by SoftBank Group's energy subsidiary in southern Ohio. If the internal chips are included, the total investment in the entire project is expected to exceed US$500 billion, making it the largest planned data center in the world to date. The amount of electricity the park will swallow is astronomical: about 10 gigawatts, equivalent to the power consumption of millions of homes. The entire project will take many years, with the first phase expected to be completed in 2028, when it will provide about 800 megawatts of power. Interestingly, the power required for the project is controlled by the U.S. government and is solely funded by Japan under a recent trade agreement, and U.S. Commerce Secretary Howard Lutnick is now involved in determining the allocation of power rationing rights. In addition to OpenAI showing strong interest, technology giants such as Anthropic, Microsoft and Google have also launched relevant negotiations with Lutnick in recent weeks. Why do you need NVIDIA to guarantee it? The key lies in OpenAI’s balance sheet. It remains loss-making, unlisted and lacks an investment-grade credit rating, and Nvidia's guarantee could help the SoftBank-owned data center developer raise debt on better terms. According to the proposed framework, NVIDIA will guarantee a series of financing instruments to give lenders reassurance and enhance their confidence in the project capital chain. However, the terms have not yet been finalized and there are still variables in the transaction. This $250 billion guarantee only covers the lease costs and debt required for construction of the data center, and does not include the Nvidia chips used internally. People familiar with the matter added that Nvidia, which has previously invested US$30 billion in OpenAI, is also negotiating with it a chip purchase financing agreement that may be as high as US$350 billion. This "circular financing" approach has caused concerns among industry insiders: Once market sentiment turns or the growth of the AI ​​industry slows down, the vulnerability of the entire industry chain will be amplified. Looking to the policy level, this data center is also of great significance to the Trump administration and the Department of Commerce. As part of exchange for U.S. pledges to lower tariffs, Japan agreed to invest $33 billion in a natural gas-fired power project on federal land in Ohio, operated by SoftBank Energy. To avoid the permitting delays and community protests that have sparked in many places across the country, the site selection fell on