Nvidia has spent the last few years becoming the most important company in AI. Now it’s apparently trying to become the most important bank in AI, too. A column published on July 27 flagged what it calls “Cloudmaxxing,” a term for Nvidia’s increasingly aggressive strategy of financially undergirding massive data center buildouts. The concern centers on roughly $600 billion in financing tied to OpenAI and SoftBank’s plans to construct a 10 GW data center campus.
The Ohio megaproject and Nvidia’s expanding role
The flagship initiative is a planned campus in Ohio that could cost upward of $500 billion. Nvidia is reportedly positioning itself to guarantee approximately $250 billion of that total cost, effectively helping less established developers access cheaper debt by putting its own balance sheet on the line.
Back in September 2025, Nvidia entered a $6.3 billion capacity backstop deal with CoreWeave, a cloud computing firm that has become one of its largest non-hyperscaler customers. That deal raised some eyebrows at the time, but $6.3 billion looks almost quaint compared to the scale now being discussed.
Why this matters for the AI supply chain
