To The Moon

Nvidia has announced a major commitment to support OpenAI's new artificial intelligence data center in Ohio, providing both credit guarantees and computing power assurances. The project, developed and operated by SB Energy at the PORTS-Pike technology park in Pike County, will be delivered to OpenAI through a 20-year lease agreement.

The initial phase covers approximately 4.25 gigawatts of IT capacity, with an option to expand by an additional 3.75 gigawatts. The rollout is scheduled to begin in phases starting in 2028.

Deal Structure and Key Terms

Under the arrangement, SB Energy will handle construction, ownership, and operations of the data center, while OpenAI will lease the full capacity. The entire facility will run on Nvidia's full-stack AI factory platform. Nvidia will extend land, power, and building (LPS) credit support for the initial 4.25 gigawatts, with an option to expand coverage.

Additionally, Nvidia is investing $1.5 billion directly into SB Energy. In tandem, SB Energy and SoftBank will build power generation facilities capable of supporting 10 gigawatts of energy supply, committing at least $4.2 billion toward regional grid upgrades.

The project is expected to create 35,000 construction jobs through 2032 and 2,500 permanent operational roles. Earlier discussions had considered Nvidia backing of up to $250 billion, though reports later indicated the figure was reduced to below $120 billion, ultimately focusing on the first 4.25 gigawatt phase.

Leadership Perspectives

Nvidia CEO Jensen Huang emphasized the strategic importance of the initiative, stating, "We are securing long-term infrastructure for Nvidia computing power, enabling OpenAI to deploy the most efficient AI factories, and continuously improving intelligence and economic benefits with each new generation of technology."

OpenAI President Greg Brockman highlighted that computing capacity has become the "new oil" of the AI era, describing it as a finite and increasingly valuable resource.