Nvidia in talks to backstop $250bn of OpenAI’s data-centre financing

Nvidia is reportedly in talks to guarantee approximately $250bn of financing for OpenAI. This backstop would enable the ChatGPT creator to fund a massive new data centre despite lacking the investment-grade credit rating typically required for such borrowing. The Wall Street Journal reported the arrangement on July 26, although neither company has confirmed the details. Following these reports, shares of CoreWeave and Nebius experienced a rise as the market reacted to the potential financing deal.