NVIDIA to Invest $1.5 Billion in SoftBank's SB Energy, Which Will Sign a 20-Year Lease Agreement with OpenAI

BlockBeats News, August 17th, Nvidia announced a $1.5 billion investment in SB Energy, a SoftBank subsidiary, ensuring that the Ports-Pike Technology Park in Ohio is dedicated to hosting its artificial intelligence computing business. Under the agreement, SB Energy will operate the data center under a 20-year lease agreement with OpenAI becoming an 8 IT gigawatt customer of the project; Nvidia will also provide credit support for the initial 4.25 IT gigawatt phase of the project and retain the option to add 3.75 IT gigawatts of capacity.

The Ports-Pike project is expected to create tens of thousands of jobs and establish an $80 million community fund, with OpenAI further contributing $40 million to the community welfare fund. Meanwhile, market reports indicate that following its deal with Nvidia, Groq's valuation reached $3.5 billion in a new funding round.