Nvidia backs $105B of OpenAI data center rent; Google guarantees $50B+, mostly for Anthropic
AccBalanced · x · 2026-10-11
- Chipmakers now guarantee AI labs' data center rent to lock in demand: Nvidia agreed to back up to $105B so OpenAI can rent a giant Ohio data center for 20 years running Nvidia chips; Google has backed over $50B of rent, mainly for Anthropic, which will run Google's chips.
- Structure: labs don't build their own data centers — other companies borrow billions from banks to build and rent them out; banks demand rent guarantees, pulling chipmakers in.
- It's a bet that labs succeed and the centers get filled with their own chips, adding substantial risk on top of chip sales.
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