# Nvidia Backs OpenAI Data Center with $105 Billion Guarantee

**Published:** 2026-08-30T08:06:15.163Z  
**Topic:** Nvidia\  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/5df59799-9072-42cf-9123-4e401a723746

Nvidia will guarantee up to $105 billion in lease payments for OpenAI’s new 8GW Ohio data center, securing long-term demand for its AI chips through 2030.

Nvidia has committed to a financial guarantee of up to $105 billion to support OpenAI’s 20-year lease of a massive 8-gigawatt (GW) data center campus in Ohio [1, 2]. The move cements Nvidia’s role as both a primary chip supplier and a critical financial backer for the infrastructure required to scale next-generation AI models [2, 4].

| At a glance | |
|---|---|
| Financial Guarantee | Up to $105 billion [1] |
| Direct Investment | $1.5 billion in SB Energy [2] |
| Data Center Capacity | 8GW total [1] |
| Target Completion | 2032 [2] |

## Infrastructure and Financial Structure
The data center, dubbed "PORTS-Pike," is being developed by SB Energy, a subsidiary of SoftBank Group [1]. Under the agreement, Nvidia will invest $1.5 billion directly into SB Energy, becoming a shareholder alongside SoftBank and OpenAI [1, 2]. The facility is designed to run exclusively on Nvidia’s DSX platform, which integrates GPUs, CPUs, and networking hardware [1]. 

The $105 billion guarantee functions as a backstop for lease payments; if OpenAI were to vacate the facility and no replacement tenant were found, Nvidia would cover the difference between the guaranteed value and the recovered sale or lease price [1, 4]. While critics have labeled this arrangement "circular finance"—suggesting Nvidia is essentially financing its own customers to buy its chips—CEO Jensen Huang has rejected the characterization [2, 3]. Huang maintains that the guarantee is a standard supply chain management principle, allowing Nvidia to secure long-term production capacity by locking in customer demand [2, 4].

## Market Implications
The scale of this project dwarfs previous infrastructure efforts, such as the 2GW expansion in Abilene, Texas, which was canceled earlier this year due to debt-financing limitations [4]. By leveraging its own balance sheet to guarantee the Ohio project, Nvidia is bypassing the traditional reliance on external debt markets that stalled the Texas site [4]. 

Nvidia’s aggressive infrastructure spending coincides with record-breaking financial performance. In the latest quarter, the company reported $96.2 billion in revenue, a 106% increase over the same period last year, with data center sales accounting for over 90% of that total [5]. Nvidia projects that its total sales to OpenAI could reach $600 billion by 2030, provided the planned infrastructure—which will eventually house 1.5 million GPUs—is fully operational [2, 4].

## What to watch
* **Phase 1 Launch:** The first 800-megawatt (MW) segment of the data center is scheduled to begin operations in 2028 using existing power infrastructure [1, 6].
* **SB Energy IPO:** SB Energy is reportedly planning an initial public offering as early as next month, targeting a valuation of up to $50 billion [1].
* **Project Expansion:** Nvidia holds an option to provide further financial guarantees for the remaining 3.75GW of the project’s capacity, which is slated for completion by 2032 [1, 2].

The project highlights a shift where AI leadership is no longer defined solely by chip performance, but by the ability to secure the land, power, and capital required to build "AI factories" at scale [1]. Whether this model of deep financial integration with customers will satisfy investors concerned about "circular" capital flows remains the central question for Nvidia’s long-term growth strategy [3, 4].

## Sources
1. Digitaltoday — [오픈AI 20년 임차한 10GW 데이터센터…엔비디아, 최대 150조원 '통큰...](https://www.digitaltoday.co.kr/news/articleView.html?idxno=693564)
2. Yna — [엔비디아, 오픈AI 데이터센터에 150조원 보증…순환금융 지적도](https://www.yna.co.kr/view/AKR20260818004900091)
3. V — [엔비디아, 오픈AI 데이터센터 '채무 보증' 반토막 축소 | Daum | SBS Biz](https://v.daum.net/v/20260818045101300)
4. Newsroad — [엔비디아, 오픈AI 데이터센터에 150조 보증…젠슨 황 "순환금융 아니다..."](https://www.newsroad.co.kr/news/articleView.html?idxno=63003)
5. Donga — [엔비디아, AI 열풍에 분기 매출 133조원…13분기 연속 기록경신](https://www.donga.com/news/Inter/article/all/20260827/134553274/1)
6. News — [엔비디아, 오픈AI 오하이오 데이터센터에 최대 149조원 보증 | 앱스토리](https://news.appstory.co.kr/daily19503)

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Cite as: TrendWatcher, "Nvidia Backs OpenAI Data Center with $105 Billion Guarantee", https://www.trendwatcher.in/article/5df59799-9072-42cf-9123-4e401a723746