Nvidia eyes investing $3 billion in SB Energy under OpenAI data center deal, Information says

Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST

Aug 15 : Nvidia is in talks to invest as much as $3 billion in SB Energy, a SoftBank Group subsidiary developing a massive planned Ohio data center project for OpenAI, the Information reported on Saturday, citing people familiar with the discussions.

Here are some details:

• The proposed investment is part of Nvidia's talks with OpenAI and SB Energy on providing around $100 billion in credit support for the planned Ohio data center campus, the report said.

• Nvidia has discussed investing half of the $3 billion when the Ohio project deal is signed and the other half as part of SB Energy's planned initial public offering, according to the Information.

CNA Games

Guess Word
Crack the word, one row at a time

Buzzword
Create words using the given letters

Mini Sudoku
Tiny puzzle, mighty brain teaser

Mini Crossword
Small grid, big challenge

Word Search
Spot as many words as you can
Show More
Show Less

• Reuters could not immediately verify the report. Nvidia and SB Energy did not immediately respond to requests for comment outside regular business hours.

• SB Energy is aiming to go public as soon as next month and could raise at least $5 billion in the IPO, the report added.

• SB Energy, which is also backed by OpenAI, develops large-scale power and data center infrastructure projects. Founded in 2019, the company is building several data center campuses to support rising demand tied to AI workloads.

• The Wall Street Journal on Friday reported that Nvidia has revised its plans to support a proposed OpenAI data center project in Ohio and is now expected to initially guarantee less than $120 billion, down from the $250 billion previously discussed.

Newsletter

Week in Review

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here