NVIDIA OpenAI Ohio Data Center Secures Compute Role
NVIDIA OpenAI Ohio data center SEC filing shows NVIDIA's exclusive compute role and a $105 billion capped guarantee that could alter investor positioning.
KEY TAKEAWAYS
- SEC filing shows NVIDIA's residual-value guarantees are capped at $105 billion.
- Guarantees trigger only on OpenAI default and are indemnified by OpenAI.
- NVIDIA will invest $1.5 billion in SB Energy and supply exclusive AI compute at PORTS-Pike.
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NVIDIA Corporation said in a joint press release on Aug. 17, 2026, that the NVIDIA OpenAI Ohio Data Center at the PORTS-Pike Technology Campus in Pike County will host NVIDIA as the exclusive AI compute provider. NVIDIA is partnering with SB Energy and OpenAI to build the campus and upgrade regional power infrastructure.
Deal Structure, Capacity, and Community Impact
SB Energy, a SoftBank Group subsidiary, will build, own, and operate the data center campus, leasing it to OpenAI under a 20-year agreement. The project reindustrializes the former Portsmouth Gaseous Diffusion Plant and surrounding area.
The campus is designed to support 8 information-technology gigawatts (IT-GW) of AI factory capacity. The initial deployment will cover 4.25 IT-GW, with NVIDIA holding an option to extend to the remaining 3.75 IT-GW. OpenAI will deploy NVIDIA’s full-stack DSX AI factory platform, which includes GPUs, CPUs, and networking. Capacity is expected to come online in phases starting in 2028.
NVIDIA will invest $1.5 billion in SB Energy, joining SoftBank Group and OpenAI as backers of the development. SB Energy and SoftBank have committed to build at least 10 GW of new energy generation and invest at least $4.2 billion in regional grid infrastructure in partnership with AEP Ohio, a package designed to protect ratepayers. The partners also established a combined $80 million community benefits fund. OpenAI projects 35,000 construction jobs through 2032 and 2,500 long-term positions.
Financial Guarantees and Obligations
A current SEC filing describes residual-value guarantees tied to the project’s initial leases. NVIDIA can extend credit support to roughly 3.8 IT-GW more, with a cumulative payment obligation capped at $105 billion. These guarantees would activate only if OpenAI defaults or becomes insolvent, covering the shortfall between a guaranteed minimum lease value and SB Energy’s recovery through re-letting or sale.
The guarantees terminate if OpenAI attains a satisfactory credit rating, terminates a lease under its contractual rights, or on the 20th anniversary of a lease’s commencement. OpenAI has agreed to reimburse and indemnify NVIDIA for amounts paid under the guarantees. NVIDIA characterizes the structure as a lease-value guarantee rather than a loan or lease. Forms of the agreements will be filed as exhibits to NVIDIA’s Form 10-Q for the quarter ended July 26, 2026.
This disclosure ties a significant contingent obligation to OpenAI’s credit profile and the long-lived data center assets. The legal structure outlined in the filing will influence how markets and lenders assess NVIDIA’s exposure.
