Nvidia considers $250B backstop for OpenAI's Ohio data center

According to a Wall Street Journal report, Nvidia is in discussions to provide roughly $250 billion（約40兆円） in financial support for OpenAI's plans to lease a 10-gigawatt data center campus in southern Ohio. The facility is being developed by SoftBank through its energy subsidiary. The overall development, including AI chips and supporting infrastructure, could require more than $500 billion（約80兆円） in investment if completed as planned.

Nvidia's proposed role would center on providing financial backing for the leasing arrangement rather than directly funding construction. The Ohio data center project is expected to become the largest announced data center project to date, underscoring the growing capital requirements tied to generative AI expansion.

The discussions occur against a backdrop of technology companies rapidly accelerating their investments in AI infrastructure to meet rising computing demand. However, neither Nvidia, OpenAI, nor SoftBank has publicly confirmed the reported negotiations. The report also notes that the terms of any agreement could change before a final deal is reached.

Nvidia's potential involvement in underwriting OpenAI's infrastructure needs reflects a structural shift in how AI companies are funding their expansion. Rather than building data centers directly, major AI firms are increasingly relying on specialized infrastructure partners and financial arrangements to manage the enormous capital requirements. The Ohio project, which could cost more than $500 billion（約80兆円） overall, exemplifies the scale of investment now required to compete in generative AI infrastructure—a threshold that puts significant financial and operational strain on even the largest technology companies.

The discussions also highlight Nvidia's expanding role beyond chipmaking into financial engineering and infrastructure partnerships. By providing a leasing backstop rather than direct construction financing, Nvidia would position itself as a strategic orchestrator of AI infrastructure, further entrenching its position as a critical player in the AI supply chain. The fact that no party has publicly confirmed these negotiations underscores the sensitivity and complexity of deals at this capital scale.

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