Nvidia Plans $3 Billion Stake in SoftBank's SB Energy, Linked to OpenAI Ohio Data Center
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Nvidia is negotiating a stake of up to $3 billion in SoftBank subsidiary SB Energy, tied directly to a massive OpenAI data center in Ohio — a sign the chip giant is moving from selling shovels to investing in the mine itself.
How is the deal structured?
Nvidia plans to invest in two tranches: $1.5 billion when the Ohio project agreement is signed, and another $1.5 billion at SB Energy's planned IPO.
The investment is part of Nvidia's role in a broader $100 billion credit-support negotiation involving OpenAI and SB Energy.
This means → Nvidia is no longer just selling GPUs to data centers; it is putting capital directly into downstream power and infrastructure.
Where does SB Energy's IPO stand?
SB Energy could launch its IPO as early as next month, targeting at least $5 billion in proceeds, per The Information.
Nvidia's second $1.5 billion tranche is tied to that IPO. In plain terms = Nvidia would serve as both a strategic investor and an anchor buyer for the listing.
This reflects SoftBank's strategy of spinning out its energy assets separately, using the AI-data-center narrative to support valuation.
Why did the guarantee shrink?
The Wall Street Journal reported that Nvidia has scaled back its guarantee on the Ohio data center project. The initial guarantee is now expected to be below $120 billion, down from $250 billion discussed earlier.
This means → the guarantee was cut by more than half — Nvidia is capping its balance-sheet exposure.
Put simply = Nvidia is willing to invest and lend its name, but not to stake its own finances too deeply.
Content is for reference only, not financial advice.