Nvidia is in talks to invest as much as $3 billion in SB Energy, a subsidiary of SoftBank Group, which is developing a major OpenAI data center campus in Ohio [1, 2, 3, 4, 5, 6]. The investment is part of a broader package involving about $100 billion in credit support between Nvidia, OpenAI, and SB Energy for the data center project [2, 3, 4, 5, 6].
Nvidia plans to split its $3 billion investment into two stages: half will be committed upon signing the Ohio project deal, and the other half will come during SB Energy's planned initial public offering (IPO) [2, 3, 4, 5, 6]. SB Energy aims to go public as soon as September 2026 and intends to raise at least $5 billion from the IPO [2, 3, 4, 5, 6]. Founded in 2019, SB Energy focuses on large-scale power and data center infrastructure, with OpenAI as a significant backer [2, 3, 4, 5].
The OpenAI Ohio data center project’s first phase is expected to have about 5 gigawatts of power capacity, with OpenAI targeting to lease the entire 10 GW park eventually [6]. Nvidia has revised its credit guarantee for the project, cutting its initial $250 billion exposure to below $120 billion amid investor concerns over high financial risk [2, 3, 4, 5, 7, 6].
Beyond providing GPUs, Nvidia is expanding into AI infrastructure financing and capital provision. It is collaborating with major financial firms to mobilize over $500 billion in third-party funds for AI data centers [6]. Nvidia’s $3 billion investment aligns with its strategy to support OpenAI’s growing computing demand [3, 4, 7, 6].
SB Energy’s IPO, expected as soon as next month, will provide a platform for additional capital to fuel the data center buildout and related infrastructure projects [2, 3, 4, 5, 6].
