Nvidia Slashes OpenAI Data Center Guarantee

Nvidia is discovering that financing AI demand can make its balance sheet look as risky as its growth story looks impressive.

• –The revised guarantee still represents an enormous commitment, but limits Nvidia’s downside while the first phase proves viable.
• –OpenAI’s Ohio campus is part of the broader Stargate infrastructure push, built around a planned 10-gigawatt footprint. [OpenAI](https://openai.com/index/five-new-stargate-sites/)
• –The pullback highlights the fragility of circular AI financing, where chip vendors, data-center builders, and model companies reinforce one another’s demand.
• –Developers may eventually benefit from more compute, but financing uncertainty could delay capacity coming online and keep inference costs elevated.
• –Nvidia’s separate push to arrange more than $500 billion in AI infrastructure financing suggests it is diversifying the risk across institutional capital. [Axios](https://www.axios.com/2026/08/10/nvidia-financing-ai-goldman-sachs-blackrock)