NVIDIA will invest $1.5 billion in SB Energy, a subsidiary of SoftBank, which will sign a 20-year lease agreement with OpenAI

NVIDIA announced it will invest $1.5 billion in SB Energy, a subsidiary of SoftBank, and ensure that the Ports-Pike Technology Park in Ohio is dedicated to supporting its artificial intelligence computing business.

According to the agreement, SB Energy will operate the data center under a 20-year lease agreement signed with OpenAI, which will become a customer of the project's 8 IT gigawatt capacity; NVIDIA will also provide credit support for the project's first 4.25 IT gigawatt phase and retain the option to add an additional 3.75 IT gigawatt capacity.

The Ports-Pike project is expected to create tens of thousands of jobs and establish an $80 million community fund, with OpenAI also contributing an additional $40 million to the community welfare fund. Meanwhile, market news indicates that after reaching a deal with NVIDIA, Groq's valuation in the new round of financing has reached $3.5 billion.