TECH NEWS

Nvidia may guarantee $250bn so OpenAI can afford the data centre that will house its chips

Nvidia is in talks to provide roughly $250 billion in financing guarantees for OpenAI, the Wall Street Journal reported on Sunday, citing people familiar with the matter. The backstop would let OpenAI lease a 10-gigawatt campus in southern Ohio that SoftBank’s energy subsidiary is developing.

The reason such a guarantee is needed is straightforward: OpenAI does not have an investment-grade credit rating. Nvidia’s balance sheet would effectively stand in for one, letting lenders price the debt against the chipmaker’s credit rather than the borrower’s.

What the money covers

The $250 billion figure applies to the data centre lease and construction debt, not to the Nvidia chips that will fill the building. Those are the subject of a separate discussion, with the Journal reporting chip purchase financing that could reach a further $350 billion.

The whole project is expected to cost more than $500 billion including silicon. Its first phase, around...

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Amazon is winding down most of its Nova AI models to bet on one frontier model

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Winamp is making another comeback, this time with Deezer-powered streaming

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What the money covers

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Friend, the lonely AI wearable, returns with a new voice and a much bigger price tag

Score Up to $350 Off Samsung’s Next-Gen Smartwatches With These Preorder Deals - CNET

Amazon is winding down most of its Nova AI models to bet on one frontier model

Winamp is making another comeback, this time with Deezer-powered streaming