Full Breakdown
Nvidia Mulls $3 B Investment in SB Energy for OpenAI Ohio Data Center
8/16/2026, 8:02:20 PM
Proposed Equity Stake and Credit Support
Nvidia Corp. is in discussions to place up to US $3 billion in equity into SB Energy, a SoftBank Group subsidiary building a data-center campus in Ohio for OpenAI. The investment would be split, with roughly half committed when the Ohio project agreement is signed and the remaining half tied to SB Energy’s planned initial public offering (IPO). Parallel talks involve around US $100 billion of credit support for the same facility. The Wall Street Journal reports that Nvidia’s overall financial guarantee for the project has been trimmed to under US $120 billion, down from an earlier US $250 billion figure.
Background & Context
SB Energy, founded in 2019, moved from renewable-energy projects into data-center infrastructure after acquiring Studio 151 in late 2025. It now develops large-scale power-generation and data-center sites across the United States, including a 10-gigawatt (GW) campus in southern Ohio that would become one of the largest AI-focused facilities announced to date. OpenAI, the creator of ChatGPT, is a key investor in SB Energy and is seeking a binding lease for the full 10 GW capacity. Nvidia, led by CEO Jensen Huang, has historically supplied GPUs for AI workloads and is exploring financing models that pair its hardware with the underlying infrastructure needed for next-generation models.
Data & Statistics
- Proposed equity injection: US $3 billion (half at signing, half at IPO).
- Credit support under negotiation: ? US $100 billion.
- Revised guarantee range: < US $120 billion (previously US $250 billion).
- Anticipated IPO could raise >= US $5 billion; targeted for September 2026.
- Ohio campus power capacity: 10 GW total, with an initial phase of about 5 GW.
- Estimated total construction cost: ? US $500 billion (market sources).
Official Statements & Responses
Nvidia and SB Energy have not provided comments to reporters outside regular business hours. Reuters noted it could not independently verify the report, and Benzinga reported the same lack of response from both companies.
Conflicting Reports & Gaps
- The credit-support figure is described as “around US $100 billion” in multiple outlets, but no precise amount is confirmed.
- The construction cost estimate of US $500 billion appears only in the BigGo report; other sources do not cite a total cost figure.
- While several outlets repeat the split-investment structure, the exact timing of the IPO and the final equity amount remain “under discussion,” leaving the ultimate financing terms uncertain.
Timeline
- March 16, 2026 – Jensen Huang speaks at Nvidia’s GTC conference in San Jose, California.
- August 15, 2026 – The Information reports the pending $3 billion equity discussion and $100 billion credit-support plan (scheduled publication).
- September 2026 – Target month for SB Energy’s IPO, which could raise at least $5 billion.
- Upcoming weeks – OpenAI is expected to finalize a lease for the full 10 GW capacity; a deal signing is anticipated in the near term.
What’s Next
If the equity stake and credit-support package are finalized, Nvidia will become a cornerstone investor in SB Energy’s IPO and a primary financier for the Ohio data-center’s first phase. The next steps include: (1) signing the Ohio project agreement, (2) completing the IPO, and confirming OpenAI’s lease for the full 10 GW capacity. All three milestones remain subject to negotiation and have not been guaranteed.
