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Nvidia Mulls $250B OpenAI Deal, Shares Drop

7/28/2026

37 9 Full Breakdown

Summary

Story summary

Nvidia is discussing a financing guarantee of $250 billion for OpenAI’s 10-GW Ohio data center.
The guarantee would cover lease and debt financing, while a $350 billion package may fund chip purchases for the SB Energy project that could exceed $500 billion cost.
Nvidia shares fell about 5 % and its CDS spread rose 14 basis points, prompting analysts to warn that the circular financing could raise Nvidia’s credit risk if AI spending slows.

History

Historical Context

During the 1999 dot-com boom Cisco spent billions on acquisitions such as the $7 billion Cerent deal, exemplifying the era’s massive infrastructure bets. After the 2000-01 crash slashed venture capital to half its 2001 size, the industry recovered modestly, reaching about 0.16% of GDP by 2004. Today Nvidia’s $250 billion financing guarantee for OpenAI echoes those high-stakes funding cycles.

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Story summary

Nvidia is discussing a financing guarantee of $250 billion for OpenAI’s 10-GW Ohio data center.
The guarantee would cover lease and debt financing, while a $350 billion package may fund chip purchases for the SB Energy project that could exceed $500 billion cost.
Nvidia shares fell about 5 % and its CDS spread rose 14 basis points, prompting analysts to warn that the circular financing could raise Nvidia’s credit risk if AI spending slows.

1 / 2