Nvidia to invest $3bn in SB Energy for OpenAI data centre

Nvidia is in talks to invest about $3bn in SB Energy, a SoftBank subsidiary developing a massive data centre campus in Ohio for OpenAI, according to The Information.

The chipmaker plans to invest half after the project is signed and the rest during SB Energy's planned IPO, which is expected to raise $5bn. Separately, Nvidia and OpenAI are restructuring a financing deal that would see Nvidia initially guarantee under $120bn, down from $250bn, for the first 5 GW phase. OpenAI is negotiating a binding lease for 10 GW of the site, which could become the largest data centre project announced.

A deal is expected to be signed as soon as this weekend. The US government controls the power supply for the project, while Japan is providing funding under a recent trade agreement.