Story perspectives

Nvidia, OpenAI Negotiate $500B Ohio AI Center Financing; Shares Slip

7/28/2026

Summary

Story summary

Nvidia and OpenAI are negotiating financing for a 10-GW AI data center in southern Ohio, potentially over $500 billion.
Financing includes a $33 billion Japanese contribution and gives the United States 90 % control after Japan recoups its investment.
The first phase, slated for completion by 2028, will deliver about 800 megawatts.
Nvidia shares fell more than 4 % after the financing report, dragging down other semiconductor stocks.

History

Historical Context

After the 1986 U.S.–Japan Semiconductor Agreement prompted joint semiconductor cooperation, successive U.S.–Japan talks—most notably the 2022 Biden-Kishida meeting—deepened collaboration and saw Japan’s cumulative U.S. investment reach $500 billion by 2018. Building on that model, Nvidia, OpenAI and a ¥33 billion Japanese consortium now propose a $500 billion, 10-GW AI data-center partnership, echoing the earlier cross-border financing that reshaped chip supply chains.

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Story summary

Nvidia and OpenAI are negotiating financing for a 10-GW AI data center in southern Ohio, potentially over $500 billion.
Financing includes a $33 billion Japanese contribution and gives the United States 90 % control after Japan recoups its investment.
The first phase, slated for completion by 2028, will deliver about 800 megawatts.
Nvidia shares fell more than 4 % after the financing report, dragging down other semiconductor stocks.

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