OpenAI in talks for 10-gigawatt Ohio data center with Nvidia backing

OpenAI is in advanced talks to lease a 10-gigawatt-capacity data center in Ohio, The Information reported. The financing structure of the deal includes a direct equity stake from Nvidia, with the chipmaker's role aimed at guaranteeing capacity for its customers. When completed, the facility would draw power equivalent to the output of a mid-sized nuclear plant.

Sources cited by The Information said the project was part of OpenAI's geographic infrastructure diversification, alongside Microsoft's Wisconsin investment. Industry analysts attributed the Ohio site selection to cheap natural gas and proximity to existing transmission lines. Ohio Lieutenant Governor Jon Husted declined to comment on questions about the project.

Nvidia shares rose 1.8% in U.S. after-hours trading to about $142. Wedbush analyst Dan Ives wrote that the pre-financing model represented a new phase of Nvidia embedding itself in customers' capital structures. The projected power demand could prompt PJM Interconnection, the U.S. northeast grid operator, to reassess its 2027 capacity planning. Not investment advice.