Compute · the Ledger · Backstop
Nvidia gives SB Energy residual value guaranties, capped at $105B, on ~4.25 GW of Ohio data center leases to OpenAI
Signed · announced 17 Aug 2026 · the week to 21 Aug 2026
- Size
- $105B
- Power
- 4.3 GW
Cumulative cap of $105B on the initial commitment; Nvidia may, at its discretion, back ~3.8 GW more.
The parties
- NVIDIAcompany pageGuarantor
- SB EnergyLandlord
- OpenAIcompany pageTenant
The source
NVIDIA 8-K, 2026-08-17Regulatory filing
PORTS Technology Campus, Pike County, Ohio; an OpenAI affiliate is the tenant. Nvidia pays the shortfall versus guaranteed minimum value on OpenAI insolvency or non-payment. Obligations start when ready-for-service conditions are met, expected from 2028. The site will host Nvidia infrastructure.
The same parties, other deals
- NVIDIA agrees to buy $1.0B of Nscale convertible notes or non-voting shares within a $3.1B minimum subscription$1B · 18 Sept 2026
- Crusoe holds the initial closing of an anticipated $3.9B Series F at a $30.9B post-money valuation$3.9B · 17 Sept 2026
- Nvidia signs a $3.4B, five-year AI cloud contract with IREN for air-cooled Blackwell GPUs at Childress$3.4B · 7 May 2026
- Nvidia invests ~$2B in Nebius via a pre-funded warrant for 21,065,936 shares; Nebius targets >5 GW of Nvidia systems by 2030$2B · 11 Mar 2026
- Amazon agrees to invest $50B in OpenAI: $15B in the current round plus a $35B commitment tied to milestones or an IPO$50B · 27 Feb 2026
- OpenAI expands its AWS agreement by $100B over eight years, including ~2 GW of Trainium capacity$100B · 27 Feb 2026