Nvidia Considers $3 Billion SB Energy Investment as OpenAI Accelerates Ohio Data Centre Plans

Nvidia is considering investing as much as $3 billion in SB Energy, the SoftBank Group-backed infrastructure company developing a major data-centre campus in Ohio for OpenAI. The proposed investment would strengthen Nvidia’s involvement in the physical infrastructure needed to support the rapid expansion of artificial intelligence computing.

The potential transaction is understood to be part of wider discussions involving Nvidia, OpenAI and SB Energy over financing for the Ohio development. Reports indicate that the parties are examining around $100 billion in credit support for the planned campus, reflecting the extraordinary financial requirements of building large-scale AI computing facilities.

Under the proposed structure, Nvidia could commit approximately $1.5 billion when the Ohio project agreement is completed, with a further $1.5 billion potentially invested through SB Energy’s planned public offering. SB Energy is reportedly preparing for an IPO that could raise at least $5 billion, potentially as early as September, although the timing and terms remain subject to final decisions.

The Ohio project is expected to become a significant source of computing capacity for OpenAI. SB Energy has been developing large power and data-centre projects aimed at meeting the rapidly increasing electricity and processing requirements created by AI workloads. The development illustrates how the AI industry is moving beyond semiconductor supply into a much broader infrastructure race involving power generation, data centres, financing and networking.

The proposed investment also comes as Nvidia expands its role in financing the wider AI infrastructure ecosystem. Earlier this week, the chipmaker announced partnerships with major financial institutions aimed at mobilising more than $500 billion in capital for AI computing infrastructure. The initiative demonstrates Nvidia’s growing interest in ensuring that customers have access not only to its processors but also to the capital required to deploy them at enormous scale.

At the same time, Nvidia has reportedly revised the scale of its financial backing for the Ohio project. A Wall Street Journal report said the company was reducing an earlier proposed guarantee of up to $250 billion to less than $120 billion for the initial phase. The adjustment suggests that the companies are working to create a financing structure that can support the project while limiting Nvidia’s direct exposure.

For Nvidia, the SB Energy proposal represents another step in its evolution from a leading AI-chip supplier into a broader infrastructure partner. Its earlier strategic agreement with OpenAI envisaged at least 10 gigawatts of Nvidia-powered AI infrastructure, with Nvidia planning to invest progressively as capacity is deployed. The first phase is targeted for the second half of 2026 using Nvidia’s Vera Rubin platform.

The potential SB Energy investment therefore carries significance well beyond a single corporate transaction. It reflects the growing convergence of AI technology, energy infrastructure and private capital, as companies race to build the computing capacity required for the next generation of AI applications. If completed, Nvidia’s participation could give SB Energy additional financial strength while further consolidating the strategic relationship among Nvidia, OpenAI and SoftBank in the rapidly expanding AI infrastructure market.