Nvidia halved its $250bn promise to OpenAI. Then it showed investors what it owns
Anissa Gardizy reported the cut for The Wall Street Journal on 14 August. Under the new proposed terms Nvidia would initially backstop only half of the 10GW project, and it would decide about the rest later. A deal could be signed as soon as this weekend.
The Journal says Nvidia made the change to address investor concerns about its own risk exposure.
Reuters carried the story the same evening. OpenAI is still negotiating a binding lease for the full 10GW. SB Energy, a SoftBank subsidiary, is developing the site, and it would be the largest data centre project announced anywhere.
The scale of the campus explains the size of the promise. A first phase of roughly 800MW is due for completion in 2028, and the total project cost passes $500bn once the silicon is counted. OpenAI has no investment-grade credit rating, so lenders were being asked to price the debt...
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