Nvidia is writing a $1.5 billion check for SB Energy Corp., the SoftBank-backed power and data-center developer, in a private placement tied to one of the most ambitious AI infrastructure projects ever announced. The deal centers on the PORTS-Pike Technology Campus in Pike County, Ohio, a facility designed to eventually deliver 8 gigawatts of AI compute capacity, all running on Nvidia’s own hardware.
What the deal actually involves
The $1.5 billion equity investment puts Nvidia alongside SoftBank and OpenAI as anchor backers of SB Energy, which was founded in 2019 and has grown into a major developer of large-scale power and data-center projects. OpenAI will serve as the campus’s primary tenant under a 20-year lease, and the lease specifies that AI compute infrastructure must come exclusively from Nvidia.
Beyond the equity check, Nvidia has committed to providing up to $105 billion in residual value guarantees, a credit support mechanism designed to facilitate lease financing for the campus. The initial IT load capacity at launch is set at 4.25 GW, with an option to expand by a further 3.75 GW to reach the full 8 GW target.
The broader power ambitions are even larger. The project aims to generate at least 10 GW of new electricity capacity and will invest $4.2 billion in regional grid infrastructure in partnership with AEP Ohio, the local utility. Construction is projected to create tens of thousands of jobs in the region, and an $80 million community benefits fund will be established to support Pike County.
