Nvidia could invest $250bn in OpenAI's 10Gw Ohio data center — but costs could balloon to $500bn

Nvidia is reportedly considering a $250 billion investment in OpenAI's upcoming Ohio data center, though the total project costs could soar to $500 billion, according to The Wall Street Journal. The proposed facility would boast a capacity of 10 gigawatts, with the first phase set to be completed by 2028, generating approximately 800 megawatts.

The financing would secure a lease for the site, which is being developed by SB Energy, a SoftBank subsidiary, and support the hosting of Nvidia's chips inside the data center. However, this financing would exclude the Nvidia chips themselves, with an additional $350 billion allocated for those purchases. The U.S. government will control the power supply, funded through a separate arrangement with Japan, as part of Tokyo's $33 billion investment in a natural gas plant.

OpenAI, valued at $852 billion and currently unprofitable, has reported substantial losses, including a $21.3 billion net loss in Q1 2026 and an anticipated $14 billion loss for the entire year, with cumulative losses reaching $44 billion by 2028. This loss-making situation complicates OpenAI's pursuit of infrastructure investments.

Nvidia's involvement is aimed at reassuring lenders and guaranteeing sustained chip demand, while the deal would also allow OpenAI to own its infrastructure, moving away from renting capacity from Microsoft, Amazon, and Oracle. The project's scale makes it one of the largest AI data center developments globally, but its financing remains a complex mix of private investment, government backing, and long-term computing demand. As of now, commercial agreements between the involved parties have not been finalized.