CoreWeave and Nebius Rise as Report Links Nvidia to Major OpenAI Infrastructure Financing
Shares of CoreWeave (NASDAQ:CRWV) and Nebius Group (NASDAQ:NBIS) rose on Monday after a Wall Street Journal report indicated that Nvidia (NASDAQ:NVDA) is in talks to provide $250 billion in financing guarantees for an OpenAI data center project. The proposed deal would support the leasing of a 10-gigawatt facility being developed by SoftBank's energy subsidiary in Ohio, with total investment expected to exceed $500 billion. Separately, Nvidia is also reportedly considering up to $350 billion in financing for OpenAI’s AI chip purchases. The deal could mark a strategic shift for OpenAI, reducing its reliance on cloud providers like Microsoft and Amazon while securing long-term demand for Nvidia's chips as global AI infrastructure investment grows. The first phase of the Ohio project is expected by 2028, with power supply supported by U.S. government funding and Japan’s $33 billion natural gas facility commitment. Analysts view this development positively for neocloud providers like CoreWeave and Crusoe Energy, suggesting it could ease concerns about slowing AI capacity demand or financing constraints.
Topics: AI infrastructure data centers financing deals Nvidia OpenAI