[UPDATE] Nvidia in talks on a backstop of up to $250B for an OpenAI datacenter lease
Nvidia is reported to be discussing credit support of up to $250 billion that would let OpenAI raise debt against a 10-gigawatt campus in Pike County, Ohio, covering lease and construction obligations rather than the chips themselves. Nvidia had already contributed $30 billion to OpenAI's March round after an earlier $100 billion plan did not proceed. The structure makes the largest AI chip vendor a credit counterparty to its own demand, a linkage that matters more as the five largest cloud buyers commit $660-690B of 2026 capex.