Nvidia cuts OpenAI Ohio data centre guarantee below $120bn

Nvidia reportedly cut its proposed financial guarantee for OpenAI’s Ohio data centre project from $250 billion to less than $120 billion, according to a Wall Street Journal report cited by Mobile World Live.

Sources told the Wall Street Journal that the revised agreement would have Nvidia support only the first phase of the Ohio project rather than the full 10GW development. Mobile World Live reported that the change followed investor concerns about Nvidia’s exposure to large financing commitments tied to demand for its AI chips. Nvidia and OpenAI were reportedly nearing an agreement on the financing structure, with a deal potentially due later that week.

The Ohio campus is being developed by SB Energy, a SoftBank subsidiary. Mobile World Live said the site forms part of OpenAI’s commitment to US President Donald Trump’s Stargate initiative, which is intended to expand AI infrastructure in the United States. The campus is planned to reach 10GW of capacity and, if completed, would be the largest data centre project announced to date. OpenAI remains in talks over a binding lease for the project.

The project would redevelop the former Portsmouth Gaseous Diffusion Plant site in Ohio. According to the report, the development is expected to create more than 10,000 construction jobs and more than 2,000 operational roles. The funding revision came days after Nvidia announced partnerships with six financial institutions, including Apollo, BlackRock, Goldman Sachs and KKR, to create compute financing platforms targeting more than $500 billion in third-party capital for AI infrastructure.