Nvidia halves its OpenAI backstop to under $120bn after a 5% stock drop

Nvidia cut its guarantee on OpenAI's 10GW Ohio campus from $250bn to under $120bn, backstopping half the project and deferring a decision on the rest. Nothing about the campus changed in three weeks: the stock fell 5% after the first report, and the promise shrank to match. OpenAI, which has no investment-grade rating on a project whose cost passes $500bn, now has less of Nvidia's credit to borrow against. The same-week 13F disclosed the visible half of the book — 214.8 million Intel shares worth about $30bn and 122.8 million SpaceX Class A shares worth roughly $21bn.

Source: thenextweb.com ↗