OpenAI Negotiates to Lease 10-Gigawatt Ohio Data Center; Nvidia to Provide Financial Guarantees

According to Beating, OpenAI is in negotiations with SoftBank's SB Energy to long-term lease a planned 10-gigawatt AI data center complex on federal land in Pike County, Ohio, with total investment reaching at least $500 billion if fully completed. A key component of the deal involves Nvidia discussing providing credit guarantees (backstop) to support OpenAI's lease contract and SB Energy's project financing.

The site, a former uranium enrichment facility under the U.S. Department of Energy, will feature a 9.2-gigawatt natural gas power plant. The first phase of 800 megawatts is expected to become operational in 2028. Under a 20-year lease, OpenAI will control equipment in the facility and assume rent payments totaling hundreds of billions of dollars after operations begin.