The race for artificial intelligence rolls on, and it is heading toward a turning point without precedent. According to an exclusive report by The Wall Street Journal, Nvidia is in talks with OpenAI to provide around $250 billion in financial guarantees to the ChatGPT maker. The goal? To build a new, massive data center, the largest in history.
The project has reportedly already identified a site in southern Ohio as its ideal location. With Nvidia’s backing, OpenAI would have far greater resources to pursue a 10-gigawatt build-out. It would be a significant step forward above all for OpenAI, which would take its first move toward controlling its own infrastructure, winding down the rental agreements it currently holds with Microsoft, Amazon and Oracle. For Nvidia, by contrast, a strategy of this kind would lock in demand for its chips over the coming years.
The details of the project
Again according to the WSJ’s reporting, the entire project should cost a total figure north of $500 billion, including the chips that go inside the data centers. With Nvidia’s $250 billion guarantee, OpenAI would be able to cover the data center lease and the initial debt financing, but not the Nvidia chips housed within it.
Before this arrangement, the chipmaker had been discussing financing for OpenAI’s chip purchases worth roughly $350 billion. That plan ultimately fell through, but Nvidia’s support would still fund instruments designed to reassure lenders about the backing behind the mega-project.
The Journal reports that the first phase should be completed in 2028, with an initial capacity of around 800 megawatts. The power supply will be controlled by the US government and financed separately by Japan, thanks to another commercial agreement under which Tokyo commits to investing $33 billion in a natural gas plant.
Nvidia’s strategy
Looking at the strategic side, a deal this large could transform Nvidia from a mere hardware supplier into a genuine financial guarantor of the global infrastructure for artificial intelligence.
It is clear, however, that a strategy of this kind would expose the company to serious risks down the road. Will OpenAI manage to monetize its future services? Nvidia’s return depends on it, and the doubt lingers, especially in a landscape as increasingly competitive as today’s.
Meanwhile, the first criticisms have already surfaced over guarantees for the stability of the local power grid in Ohio and over the environmental impact the data center could have across the surrounding area. The project will face scrutiny from antitrust regulators to assess its feasibility and its possible consequences.
Editor’s note
This article was originally published in Italian on money.it by Pasquale Conte on July 27, 2026 as «Nvidia e OpenAI, collaborazione da 250 miliardi per il più grande data center della storia». It has been translated and adapted for an international audience by the Money.it International desk.
