Chip giant guarantees power and buildings for one of the world’s largest AI factories as SoftBank builds out southern Ohio.
Nvidia is putting serious money behind the physical backbone of the next wave of artificial intelligence. On Monday the company confirmed it will provide up to $105 billion in credit support for a massive data-center campus in Pike County, Ohio, that OpenAI will lease for 20 years.
The deal locks in exclusive use of Nvidia chips at the PORTS-Pike Technology Campus, a project led by SoftBank’s SB Energy on private land and a former Department of Energy uranium-enrichment site. OpenAI has committed to roughly 8 gigawatts of IT capacity—enough electricity to power millions of homes. Nvidia is backing the first 4.25 gigawatts, with an option on the rest.
How the Money Works
Nvidia is not writing a blank check for OpenAI’s rent. Its support covers defined portions of lease and power payments plus a residual-value commitment on the completed buildings. The guarantee phases in as capacity comes online starting in 2028. OpenAI pays only for finished space. Nvidia CEO Jensen Huang stressed the arrangement is not circular financing: “OpenAI will pay the lease.”
Separately, Nvidia is investing $1.5 billion in SB Energy itself. That equity stake sits alongside earlier investments from SoftBank and OpenAI.
Power First, Then Compute
The real bottleneck in AI has shifted from chips to land, power, and buildings. SB Energy plans at least 10 gigawatts of new generation, mostly natural gas, to deliver the 8 gigawatts of usable IT load. It is also putting $4.2 billion into new high-voltage transmission with AEP Ohio. The companies say those grid upgrades will not land on Ohio ratepayers and should strengthen regional reliability.
First capacity—about 800 megawatts—is expected in 2028 using existing infrastructure. Full build-out runs through 2032.
Jobs and Local Stakes
OpenAI and SB Energy project 35,000 construction jobs during the six-year build and 2,500 long-term operating roles. The partners have committed $80 million in community funds for local priorities such as schools, workforce training, and public services. OpenAI is also offering $84 million in Codex credits to Ohio college students.
The project turns a Cold War industrial relic into a flagship AI factory. It also highlights how far the industry has moved: the companies that sell the GPUs are now helping underwrite the power plants and concrete that keep those GPUs running. Whether the model scales cleanly or creates new financial risks will shape the next decade of AI infrastructure.
AI Disclosure: This article was created with the assistance of artificial intelligence tools and was reviewed and edited by the Glowls News editorial team before publication.