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Nvidia in Talks to Invest $1.5bn in SB Energy to Back OpenAI’s 10GW Ohio Data Center

By: IDCNOVARegion: North America
Nvidia is in advanced discussions to invest $1.5 billion in SB Energy, the SoftBank-backed data center developer and power platform, according to sources familiar with the matter. The investment is tied to the planned up to 10GW data center campus in Pike County, Ohio, developed in partnership with OpenAI, a project that could cost an estimated $500 billion if fully built out.

The chip giant is reportedly considering a total investment of up to $3 billion in SB Energy, with the first $1.5 billion expected to be deployed when the Ohio data center deal is signed, and the remaining half to come as part of SB Energy’s planned initial public offering. News of SB Energy’s intention to file for an IPO first emerged in May, and OpenAI is also an existing investor in the company.

The Ohio campus, located on Department of Energy (DOE) land at the former Portsmouth Gaseous Diffusion Plant in Scioto Township, is expected to begin operations in its first phase in 2028 at 800MW. Ground was broken on the project in March 2026. OpenAI will use Nvidia hardware at the site, and Nvidia would reportedly provide a financial guarantee for OpenAI’s lease and for SB Energy’s future project financing.

The investment is part of a broader financial support structure for the massive campus. Reports in July indicated that Nvidia was in talks with OpenAI to provide a $250 billion backstop for the data center, which would allow SoftBank to raise debt at more favorable terms. That figure has reportedly been reduced to around $120 billion. Additionally, SB Energy will invest $33.3 billion in Japanese funding to support 9.2GW of new natural gas generation at the site, with the US government retaining ownership of the power plant.

The Pike County project marks one of the largest data center developments ever proposed in the US. The site, constructed in the 1950s, previously produced enriched uranium for the US nuclear weapons program and Navy submarines, and later supplied low-enriched uranium for commercial nuclear reactors. The DOE listed the plant as one of 16 federal sites designated for “rapid data center construction” last year.

Nvidia has been aggressively expanding its footprint across the AI sector in recent months. In March, it committed $2 billion to AI cloud provider Nebius, followed by multibillion-dollar investments into Safe Superintelligence and Iren. The SB Energy deal, if finalized, would further cement Nvidia’s role not just as a chip supplier but as a financial anchor for large-scale AI infrastructure projects, signaling a shift in how chipmakers are participating in the data center value chain.