# PORTS-Pike Closes: $1.5B Into SB Energy and a $105B Nvidia Backstop

Times of AI Desk · 2026-08-17 · Work

[https://timesof.ai/2026/08/nvidia-openai-ports-pike-ohio-deal](https://timesof.ai/2026/08/nvidia-openai-ports-pike-ohio-deal)

> Nvidia and OpenAI confirmed a signed Ohio campus deal: Nvidia invests $1.5 billion in SoftBank’s SB Energy, takes exclusive compute at PORTS-Pike, and — per Reuters, CNBC, and Nvidia’s 8-K — provides up to $105 billion of credit support for an initial 4.25 IT-GW with an option on 3.75 more. OpenAI is the 20-year tenant for about 8 IT-GW.

The Ohio campus is no longer a rumor stack. Nvidia is now **chip vendor, equity holder in the power developer, and credit backstop** — the most complete circular-financing specimen in the 2026 buildout, with a **federal land** redevelopment wrapper.

**Nvidia** and **OpenAI** published matching primaries on **PORTS-Pike** in **Pike County, Ohio**. **SB Energy** (SoftBank) will **build, own, and operate** the campus under a **20-year lease** to OpenAI. Nvidia is the **exclusive** AI-compute provider, invests **$1.5 billion in SB Energy**, and provides **credit support** on land/power/shell for an initial **4.25 IT-GW**, with an option on the remaining **3.75 IT-GW** (**~8 IT-GW** OpenAI customer capacity). **Reuters** and **CNBC**, citing Nvidia’s **Form 8-K**, put the guarantee at **up to $105 billion**. First **800 MW** targeted **2028**. This **supersedes** the Aug 14 “talks / <$120B” file and the Aug 15 “up to $3B equity talks” — the signed equity check is **$1.5 billion**, not $3 billion.

## Deal sheet

| Piece | Signed Aug 17 (Nvidia PR + OpenAI Global Affairs + 8-K/wires) |
|-------|---------------------------------------------------------------|
| **Site** | **PORTS-Pike** (former Portsmouth Gaseous Diffusion Plant + private land); **DOE** and **Commerce** involved |
| **Tenant** | **OpenAI**, **20-year** lease; pays as capacity comes online |
| **Landlord / developer** | **SB Energy**; **≥10 GW** new generation; **$4.2B** AEP Ohio grid spend (ratepayer-protection framing) |
| **Chips** | **Nvidia DSX** full stack; **exclusive** Nvidia compute |
| **IT capacity** | **4.25 IT-GW** first; option **+3.75**; OpenAI contracting **~8 IT-GW** |
| **Nvidia equity** | **$1.5B** into SB Energy (joining SoftBank + OpenAI) |
| **Credit wrap** | Nvidia **8-K / Reuters / CNBC**: **up to $105B** guarantee on lease/power and a **minimum residual value** — not the full project cost |
| **Jobs / community** | **35,000** construction through **2032**; **2,500** operating; **$80M** community fund (**$40M** SB Energy + **$40M** OpenAI) |
| **Ohio Codex credits** | OpenAI: **$84M** Codex credits for **~844,000** eligible Ohio college students (**$100** each, 2026–27) |

Nvidia newsroom summary does **not** print “$105 billion”; that figure is in the **8-K** and wires. Huang told Reuters the structure is **not circular financing**. Wires add Nvidia could see **~$200B** revenue from the initial 4.25 GW site and **~$600B** from OpenAI by **2030** including the option — **forward-looking**, not booked. Not a dual-date of Aug 10 $500B MOUs, Aug 14 scale-back talks, or Aug 15 $3B SB Energy equity talks. Aug 17 is the **close**.

## Limits

- 8-K fine print on what the $105B actually covers is the next read.
- Forward revenue figures are not booked.
- CFIUS/energy-regulator review risk remains.

## Sources

- [NVIDIA: Guarantees SB Energy’s PORTS-Pike campus to exclusively host NVIDIA AI compute (August 17, 2026)](https://nvidianews.nvidia.com/news/nvidia-guarantees-sb-energy-s-ports-pike-technology-campus-in-ohio-to-exclusively-host-nvidia-ai-compute)
- [OpenAI: OpenAI joins PORTS-Pike project (August 17, 2026)](https://openai.com/index/openai-joins-ports-pike-project/)
- [Reuters: Nvidia to provide up to $105 billion guarantee (August 17, 2026)](https://www.reuters.com/business/media-telecom/nvidia-invest-15-billion-sb-energy-under-openai-data-center-deal-2026-08-17/)
- [CNBC: Nvidia backing $105 billion; cites Form 8-K (August 17, 2026)](https://www.cnbc.com/2026/08/17/nvidia-financing-open-ai-data-center-ohio.html)
- Times of AI: `nvidia-openai-ohio-credit-guarantee` (August 14); `nvidia-sb-energy-3-billion-talks` (August 15)