OpenAI has signed a 20-year lease for a sprawling 10-gigawatt AI data center campus in Ohio. The project is being developed by SB Energy, a unit of SoftBank Group Corp., and is located on the premises of a former uranium processing plant.
Nvidia Corp. has agreed to provide a guarantee of up to $105 billion to help OpenAI lease the site. This investment ensures that Nvidia's chips will power the data center, which is one of the world's largest and could cost as much as $500 billion.
The agreement follows weeks of negotiations over the largest data-center project announced to date, with the site expected to be operational starting in 2028. This move reflects a broader trend of technology giants spending billions to scale capacity to meet massive demand, marking the latest instance where Nvidia is financing the ecosystem consuming its chips.