Microsoft-backed (MSFT) OpenAI is in advanced talks to lease a proposed 10-gigawatt data center campus on federal land in Ohio, The Information reported Tuesday, citing sources familiar with the matter.
The artificial intelligence company is discussing a 20-year lease for the site, which is currently being developed by SoftBank Group unit SB Energy on US Department of Energy property, the news outlet reported.
The infrastructure project could reach a total cost of at least $500 billion when fully constructed, with the initial phase scheduled to commence operations in 2028, according to the media outlet.
Nvidia (NVDA) has considered providing credit support for the development, utilizing its balance sheet to guarantee the tenant's obligations and the developer's future project financing, the publication noted.
The facility would run on Nvidia hardware, requiring OpenAI to secure approximately $350 billion to acquire the necessary chips, the report added.
OpenAI, Microsoft, Nvidia, and SB Energy did not immediately respond to' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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