Nvidia has cut the amount of financing it may guarantee for an OpenAI data center project in Ohio, from $250 billion to less than $120 billion, according to the Wall Street Journal. The chipmaker is now expected to provide a financial backstop only for the first phase of the project. The change comes as investors raised concerns about Nvidia's risk exposure tied to large financing commitments, the newspaper said.
Deal could land this weekend
Nvidia and OpenAI are nearing an agreement, the Journal reported, citing people familiar with the matter. A deal could be signed as early as this weekend. The reduction in the guarantee amount marks a significant shift from the $250 billion previously discussed for the Ohio project. Nvidia did not immediately respond to a request for comment outside regular business hours. OpenAI declined to comment.
Compute financing platforms launched Monday
On Monday, Nvidia partnered with six major financial institutions to launch compute financing platforms. These platforms aim to raise over $500 billion in third-party capital for AI infrastructure. The move is part of a broader trend of financing AI infrastructure, and it comes as Nvidia seeks to manage its exposure to large commitments. The Ohio project is part of that larger push, but the revised guarantee suggests a more cautious approach.
Ohio site and the 10-gigawatt lease
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OpenAI is still discussing a binding lease for the full 10-gigawatt project in Ohio, according to the Journal. The site is being developed by SB Energy, a subsidiary of SoftBank Group Corp. If completed, the project would be the largest data center project announced to date. The project would help OpenAI move toward owning AI infrastructure, a key goal for the company as it scales its operations.
OpenAI's financial position under scrutiny
OpenAI's ability to fund large-scale commitments remains under scrutiny because the company is unprofitable. Despite that, OpenAI has a valuation of $852 billion. The company's financial position is a central question as it pursues ambitious infrastructure plans. The Ohio project is one of the largest such efforts, and the revised guarantee from Nvidia reflects the financial realities of backing it.
Reporting and publication details
The article was published on August 14, 2026, 11:44 PM UTC, and updated August 15, 2026. Reporting was by Mrinmay Dey in Mexico City, with editing by Tom Hogue. The story was published by Reuters and later appeared on Hacker News. Nvidia is a major chipmaker, and OpenAI is a leading AI company, making this project a closely watched venture.