Nvidia in talks on SB Energy, OpenAI campus

Nvidia (NVDA) is in discussions to invest as much as $3 billion in SB Energy, a subsidiary of SoftBank Group that is developing a planned data-center campus in Ohio for OpenAI. The talks center on an equity stake in SB Energy that would be linked to the development of the large-scale computing facility. The potential investment underscores the scale of resources being considered for the Ohio project, which is intended to support OpenAI’s expanding infrastructure needs.

The negotiations are described as ongoing, and no transaction has been announced as completed. Nvidia (NVDA) and SB Energy did not immediately respond to requests for comment outside regular office hours, and some reports state that the details of the potential arrangement have not yet been independently verified.

The possible $3 billion equity investment is being discussed alongside negotiations under which Nvidia would provide around $100 billion in credit support for the planned Ohio data-center campus. This proposed credit support would be part of the broader framework for financing and building the project for OpenAI. The size of the discussed credit facility highlights the capital intensity associated with advanced data centers geared toward artificial intelligence workloads.

These talks link Nvidia not only as a technology supplier but also as a financial backer in the Ohio development. The arrangement under discussion would tie Nvidia’s financial commitments to the progress and structure of the OpenAI-focused campus being developed by SB Energy.

Reporting on the discussions indicates that Nvidia has considered structuring the $3 billion investment in two stages. One portion would be invested when the agreement for the Ohio project is signed, while the remaining amount would be invested as part of SB Energy’s planned initial public offering. This structure would connect Nvidia’s capital commitment both to the project’s contractual milestones and to SB Energy’s move to the public markets.

SB Energy is reported to be aiming to go public as soon as next month and could seek to raise at least $5 billion through the IPO. The link between Nvidia’s potential investment and the IPO suggests that SB Energy’s public listing plans are an important element of the overall transaction under discussion.

The information about the potential investment, credit support, and IPO timing is based on detailed reporting that other outlets have republished. Those republished accounts note that they could not immediately verify the specifics of the report. They also state that Nvidia and SB Energy did not provide immediate comment when contacted outside regular business hours.

Taken together, the available information establishes that significant negotiations are underway involving Nvidia, SB Energy, and OpenAI’s planned Ohio data-center campus. However, the structure, timing, and final terms of any investment or credit support remain subject to ongoing discussions and have not been confirmed as finalized agreements.