OpenAI is in discussions with Nvidia about a backstop of up to $250 billion that would help fund its plans to lease a new AI data center.
The backstop would let OpenAI raise debt for a 10 gigawatt data center campus in Pike County, Ohio.
The talks about the site and its financing are in progress and still subject to change.
OpenAI kickstarted the AI boom with the launch of its ChatGPT chatbot in 2022, and is now racing to secure the computing power necessary to meet future demand.
Those companies are collectively spending hundreds of billions on capex to support their own AI infrastructure ambitions.
