Nvidia is in talks to spend up to $3 billion in SB Energy, a SoftBank Group affiliate creating a big planned Ohio data center project for OpenAI.
Nvidia is negotiating with OpenAI and SB Energy to provide approximately $100 billion in credit backing for the projected Ohio data center campus, which includes the proposed investment.
Nvidia has talked about contributing half of the $3 billion when the Ohio project deal is signed and the remaining half as part of SB Energy’s upcoming IPO.
SB Energy plans to go public as early as next month and may raise at least $5 billion through the IPO.
Large-scale power and data center infrastructure initiatives are developed by SB Energy, which is also supported by OpenAI.
The company, which was founded in 2019, is constructing multiple data center sites to meet the growing demand associated with AI workloads.
Nvidia is expected to initially guarantee less than $120 billion, down from the $250 billion previously projected, for a prospective OpenAI data center project in Ohio, according to a Wall Street Journal article published on Friday.
