Nvidia to invest $1.5B in SB Energy for Ohio AI campus with OpenAI

Nvidia (NASDAQ: NVDA) has announced a partnership with SB Energy to secure land, power, and shell capacity at the PORTS-Pike Technology Campus in Pike County, Ohio, where Nvidia will serve as the exclusive AI compute infrastructure provider. OpenAI will be the customer for the facility, which SB Energy will build, own, and operate under a 20-year lease.

The initial deployment is designed to support 4.25 IT-GW of AI factory capacity, with Nvidia holding an option to extend to the remaining 3.75 IT-GW, bringing the total potential capacity to 8 IT-GW. The campus will use Nvidia's DSX AI factory platform, including GPUs, CPUs, and networking. Capacity is expected to come online in phases beginning in 2028.

Nvidia will invest $1.5 billion in SB Energy, joining existing investors SoftBank Group and OpenAI. SB Energy and SoftBank plan to build at least 10 GW of new energy generation and invest at least $4.2 billion in new regional grid infrastructure through a partnership with AEP Ohio. The campus is being developed in collaboration with AEP Ohio, the U.S. Department of Energy, and the U.S. Department of Commerce.

The project includes an $80 million community benefits fund, combining SB Energy's originally announced $40 million commitment with an incremental $40 million from OpenAI. The fund is intended to support affordable energy, job creation, workforce development, and community and economic development in the surrounding area.

The campus is located at the site of the decommissioned Portsmouth Gaseous Diffusion Plant in Appalachian Ohio. SB Energy describes the project as a reindustrialization of the area, with the development spanning private and federal land.

Goldman Sachs and JP Morgan served as financial advisors for SB Energy. Morgan Stanley served as Nvidia's financial advisor.

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