Big AI Campus: Nvidia and OpenAI's Ohio Project

Nvidia has been in negotiations to provide a $250 billion financial backstop for OpenAI’s planned lease of a large data center in southern Ohio. The arrangement would support a campus being developed with SoftBank’s project team and is tied to OpenAI’s broader Stargate infrastructure effort. The talks have drawn attention because the campus could be among the largest single AI projects in the United States.

The planned site is expected to reach about 10 gigawatts of power and the total cost could exceed $500 billion when chips and equipment are included. Work on initial phases may begin in 2028 while full buildout would take several years. Investors and industry observers say the backing from a major chipmaker could reduce financing costs, however it also raises questions about close commercial ties between hardware suppliers and AI firms. Furthermore, the timeline and final terms remain uncertain while negotiations continue. Nvidia's guarantee could let the developer borrow more cheaply and improve loan terms. OpenAI does not have an investment-grade credit rating, which makes outside support important for large leases. Market watchers and regulators will watch the negotiations closely as they consider the financial and competitive effects.