Nvidia is reportedly weighing a $250 billion financing guarantee to help OpenAI lease a massive 10-gigawatt data center being developed in southern Ohio by an energy subsidiary of SoftBank. The proposed guarantee would cover the data center lease and related debt financing, but not the cost of Nvidia's AI chips, though Nvidia is also exploring separate financing for OpenAI's chip purchases worth as much as $350 billion. The Ohio project is expected to cost more than $500 billion overall, making it one of the most expensive AI infrastructure projects ever proposed. The first phase is expected to come online in 2028, generating about 800 megawatts of computing power. Electricity for the site would come from a U.S.-controlled power allocation backed by separate Japanese funding tied to a trade agreement and Tokyo's pledge to invest $33 billion in a natural gas plant. U.S. Commerce Secretary Howard Lutnick has been involved in deciding access to that power supply, and while OpenAI is the leading contender, Anthropic, Microsoft and Google have also held discussions with Lutnick. Industry spending on AI infrastructure is expected to top $700 billion this year.