Nvidia is reportedly in discussions to provide approximately $250 billion in financing guarantees for OpenAI as part of one of the largest artificial intelligence infrastructure projects ever proposed, according to a report from The Wall Street Journal.

The financing would support OpenAI’s plans to lease a massive 10-gigawatt AI data center campus being developed in southern Ohio by SB Energy, a subsidiary of Japan’s SoftBank Group. If completed, the project could become one of the world’s largest AI computing facilities.

According to the report, Nvidia’s financial backing would help reassure lenders by supporting lease obligations and debt financing associated with the project. The guarantees would reportedly exclude the cost of Nvidia’s AI chips, although separate discussions are said to be underway regarding financing for as much as $350 billion worth of AI processors that could eventually power the facility.

The overall project is expected to exceed $500 billion in total investment, making it one of the most ambitious AI infrastructure developments announced to date. The first phase is reportedly scheduled for completion in 2028, initially providing approximately 800 megawatts of computing capacity before expanding toward its full 10-gigawatt design.

For OpenAI, the project would represent a major strategic shift toward owning or directly controlling critical AI infrastructure rather than relying primarily on cloud computing capacity rented from providers such as Microsoft, Amazon, and Oracle. Greater infrastructure independence could provide improved scalability, long-term cost efficiency, and greater operational flexibility as demand for advanced AI services continues to grow.

For Nvidia, the agreement would help secure long-term demand for its AI hardware. As the dominant supplier of graphics processors used for training and operating frontier AI models, the company has become central to nearly every major hyperscale AI infrastructure project worldwide.

The reported negotiations also illustrate how financing strategies are evolving alongside the AI industry. Rather than relying solely on direct corporate investment, technology companies are increasingly combining debt financing, infrastructure partnerships, government support, and long-term commercial agreements to fund multi-hundred-billion-dollar AI projects.

According to the report, the Ohio facility’s energy infrastructure would be supported through a separate U.S.-Japan investment arrangement tied to a large natural gas power project, reflecting the enormous electricity requirements associated with hyperscale AI computing.

Although OpenAI remains one of the world’s most valuable private technology companies, the organization continues to invest aggressively in expansion while operating without sustained profitability. Securing financing for projects of this scale is therefore becoming an increasingly important component of its long-term strategy.

The reported discussions also highlight the broader race to build AI infrastructure. Global spending on AI data centers, advanced semiconductors, networking equipment, and power infrastructure is expected to exceed $700 billion this year as technology companies compete to secure the computing resources needed for the next generation of artificial intelligence.

At the time of publication, neither Nvidia nor OpenAI had officially confirmed the reported negotiations.