NVIDIA signed guaranties for leases at an Ohio AI data center campus, with its initial commitment capped at $105 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

NVIDIA entered into residual value guaranties with SB Energy, the lessor, on Aug 17, 2026, for leases covering about 4.25 gigawatts of IT load at an AI data center campus in Pike County, Ohio. NVIDIA's total payment obligation for this initial commitment was capped at $105 billion. An affiliate of OpenAI was to be the tenant, and NVIDIA said the arrangement had secured it land, power and shell capacity at the site to host its AI compute infrastructure. The filing is an 8-K, the report a US-listed company files when something material happens, and it carries items 1.01 (a material agreement), 2.03 (a new financial obligation) and 7.01 (a Regulation FD disclosure, here a press release).1^,2^,3^,4^,5^,6

Under the agreements, NVIDIA was to pay if the tenant's insolvency caused a default under a lease, or if the tenant failed to pay under one. NVIDIA would then generally cover the shortfall between the lease's guaranteed minimum value and what a replacement lease or a sale recovered. The tenant had agreed to reimburse and indemnify NVIDIA for any amount NVIDIA actually paid the lessor. The payments depended on conditions, among them that SB Energy had met the leases' ready-for-service conditions, then expected to begin in 2028. Each guaranty generally was to take effect when its lease began and to end at the earliest of several events, among them the 20th anniversary of the lease's start and the tenant reaching a satisfactory credit rating.7^,8^,9^,10^,11^,12

The tenant was to use the capacity to deploy NVIDIA's DSX AI factory platform, subject to limited exceptions. NVIDIA could also provide credit support for about 3.8 gigawatts more at the site, at its sole discretion. In a press release attached to the filing, NVIDIA said it would invest $1.5 billion in SB Energy, whose existing investors included SoftBank Group and OpenAI, and that SB Energy would build, own and operate the data center under a 20-year lease to OpenAI. For scale, NVIDIA reported revenue of $215.94 billion for the year ended Jan 25, 2026.13^,14^,15^,16^,17

The 8-K said its description of the agreements was not complete and deferred to their full text, the form of which NVIDIA said it would file as an exhibit to its 10-Q, the quarterly report, for the quarter ended Jul 26, 2026. NVIDIA filed that 10-Q on Aug 26, 2026.18^,19