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Nvidia to Provide Up to $105 Billion Guarantee for OpenAI’s Ohio Data Center

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Nvidia has agreed to provide up to $105 billion in financial guarantees to support OpenAI’s lease of a massive AI data center being developed in Ohio by SoftBank-owned SB Energy.

The chipmaker will also invest $1.5 billion in SB Energy, adding to earlier funding from OpenAI and SoftBank. Nvidia will serve as the exclusive chip supplier for the facility, which could eventually reach 8 gigawatts of capacity, with the first 800 megawatts expected to come online in 2028.

OpenAI has signed a 20-year lease for the Pike County site. Nvidia’s guarantee will cover portions of lease and power obligations while also protecting a minimum value for the facility if OpenAI defaults.

The arrangement reflects Nvidia’s growing role in financing the infrastructure built around its processors. While the strategy supports long-term demand for its AI chips, it has also raised investor concerns about increasingly interconnected funding relationships across the AI sector.

CEO Jensen Huang said the company is using its financial strength and long-term visibility to secure infrastructure where Nvidia hardware can operate across multiple generations.

The Ohio project will also require major energy investment. SoftBank and SB Energy plan to develop at least 10 gigawatts of new power generation and invest billions in regional grid infrastructure to support the site.

Cerebras Slumps as Mixed Quarterly Results Test AI Growth Narrative

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Cerebras Systems shares fell more than 18% in premarket trading after the AI chipmaker reported mixed quarterly results that raised fresh questions about whether its hardware business can sustain the growth needed to challenge Nvidia.

The company’s cloud business was the strongest part of the quarter, with revenue roughly quadrupling to $126 million from a year earlier. However, hardware sales, including AI chips, declined to $54.1 million from $70.3 million.

Cerebras also reported a weaker adjusted gross margin of 40.6%, down from 46.5% in the previous quarter, while total revenue missed analyst expectations despite the company raising its annual outlook.

The results suggest Cerebras is becoming increasingly dependent on cloud computing revenue rather than direct AI chip sales. That shift has complicated the company’s growth story, which had been built around positioning its specialized processors as an alternative to Nvidia’s dominant AI hardware.

Investor expectations remain high across the AI infrastructure sector after massive spending commitments from major technology companies. Cerebras shares had risen about 41% from their IPO price before the latest decline, reflecting optimism around continued expansion in AI computing demand.

Analysts now see execution as the key challenge, particularly as Cerebras must rapidly expand infrastructure capacity to support cloud growth while proving that its hardware business can remain competitive.

Report Says Moonshot Uses 20,000 Nvidia Chips Through Alibaba Computing Deal

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Chinese AI startup Moonshot reportedly has access to around 20,000 Nvidia AI chips through a computing agreement with Alibaba, according to a Bloomberg report citing sources familiar with the matter.

The report says the Hopper-generation GPUs provide a significant portion of the computing power used to train Moonshot’s Kimi AI models, including the recently launched Kimi K3. It also claims Moonshot is seeking access to newer Blackwell chips through Southeast Asia.

Alibaba denied the report, stating that claims it supplied H200 chips to Moonshot are “completely groundless.”

The news comes as Moonshot faces increased scrutiny from U.S. officials over allegations that its latest AI model may have been developed using unauthorized distillation of Anthropic’s technology. Moonshot has rejected those allegations.