Nvidia Cuts OpenAI Ohio Data Center Backstop From $250 Billion to Under $120 Billion

3-line summary

• Nvidia revised its financial backstop for a planned OpenAI data center campus in Ohio, reducing it from $250 billion to less than $120 billion, with a deal that could be signed as early as last weekend, according to a Wall Street Journal report cited by Yahoo Finance.
• Investors had pushed back on the scale of Nvidia's original commitment; the restructured arrangement has Nvidia backstop only the opening phase of the build-out rather than the full project, whose lease and construction debt guarantee would let it borrow more cheaply.
• The campus is being developed by SB Energy, a SoftBank subsidiary, as part of a planned 10-gigawatt project — potentially the largest data center campus ever built — with OpenAI having raised its projected computing infrastructure spending to around $750 billion through 2030; Nvidia is separately exploring a $3 billion investment in SB Energy.

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