Nvidia backing $105 billion in financing for OpenAI data center in Ohio

JUST IN: Nvidia is backing up to $105 billion in financing for an OpenAI data center in Ohio, as tech giants pour billions into scaling AI capacity.

A hundred and five billion dollars. For one data center. In Ohio.

Nvidia disclosed it in a securities filing today, financing for a massive OpenAI facility at the PORTS-Pike Technology Campus in Pike City. The plan starts at 4.25 gigawatts of computing capacity, with an option for another 3.75, and the first phases come online in 2028. You can see the site plans here.

Jensen Huang says this locks in long-lived infrastructure for Nvidia compute. Which is a very polite way of saying Nvidia is lending money to a customer so that customer can buy Nvidia chips. Critics have a name for that, circular financing, and this deal is the biggest example yet.

Sam Altman's fingerprints are everywhere too. SB Energy builds and runs the site on a twenty year lease, OpenAI holds a stake in SB Energy, and Altman was an early investor in it personally. OpenAI's president called compute the new oil today. At these prices, the new oil costs more than most countries' entire economies.

This is Angel Manalo, reporting for HIT.

Source Read the original reporting at cnbc.com