NVDA · 10-Q · 2026Q3 · Full report

AI Infrastructure Commitments

NVIDIA CORP · 2026-08-26 · Importance 71 · Surprise 60 · In source text

NVIDIA entered guarantees with SB Energy covering approximately 4.25 gigawatts of IT load at the PORTS Technology Campus in Ohio, with aggregate obligations capped at $105 billion. The campus is expected to begin placing nine data centers into service in fiscal 2029 and will exclusively host NVIDIA compute under 20-year OpenAI leases, subject to limited exceptions. NVIDIA also had $36 billion of typically six-year cloud service commitments with select AI cloud partners and announced financing-platform memorandums intended to mobilize more than $500 billion of third-party capital over time.

Key facts

• NVIDIA entered into guarantees with SB Energy Corp. in August 2026 to provide credit support for land, power, and shell buildout at SB Energy's PORTS Technology Campus covering leases for approximately 4.25 gigawatts of IT load, with NVIDIA's obligation capped at $105 billion in the aggregate. source
• Each guarantee with SB Energy generally becomes effective upon commencement of the applicable lease, with guarantee amounts increasing as each of nine data centers is placed in service, which is expected to begin in fiscal year 2029. source
• NVIDIA's guarantees to SB Energy terminate upon certain events including OpenAI achieving a satisfactory credit rating or after each respective lease term has completed, and NVIDIA holds an option to provide additional credit support in phases for approximately 3.8 additional gigawatts as the site scales. source

Impact estimates