Nvidia guarantees landlord payments for OpenAI's Ohio data center, not direct funding
eyishazyer · x · 2026-08-18
Core Clarification: Nvidia is not directly funding OpenAI's new Ohio data center but is providing a residual value guarantee to the landlord, SB Energy.
Deal Structure:
- SB Energy: Builds, owns, and operates the PORTS-Pike campus.
- OpenAI: Signs a 20-year lease securing roughly 8 gigawatts of capacity.
- Nvidia: Provides a guarantee capped at $105 billion (covering initial 4.25GW), paying only if OpenAI defaults. Nvidia also invested $1.5 billion directly in SB Energy as equity to ensure the site can be refilled with compute if OpenAI leaves.
Timeline & Context:
- The guarantee was initially rumored to cover 10GW ($250B) but was reduced to the filed $105B figure.
- The first 800MW comes online in 2028; full 8GW buildout runs through 2032.
- Conflict of Interest Note: Sam Altman was an early investor in SB Energy, the company Nvidia is now backstopping.
Community Impact: OpenAI commits $40M to a local fund and up to $84M in Codex credits for students. Projected to create 35,000 construction jobs and 2,500 permanent roles.
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