Jensen Huang Said Nvidia's $30 Billion OpenAI Investment Might Be the Last. Nvidia Just Guaranteed Up to $105 Billion of OpenAI's Leases.

Nvidia has committed up to $105 billion in residual value guarantees backing OpenAI's data center leases in Ohio, shifting from equity investment to credit support. The guarantees only trigger if OpenAI defaults on leases and can terminate early once OpenAI achieves a satisfactory credit rating. This represents a strategic pivot from Jensen Huang's March statement that the $30 billion equity investment might be the last, as Nvidia now supports OpenAI's expansion through its balance sheet rather than share purchases.