AI Giant Nvidia (NVDA) says it plans to invest up to $105 billion to help OpenAI develop new AI data centers, according to a financial filing. The ChatGPT maker said Monday it has entered into an agreement to secure up to roughly 8 gigawatts of computing capacity from the Pike County complex, with the first 800 megawatts expected to come online by 2028. A single gigawatt is enough to power up to 750,000 US homes at any given time.
OpenAI said it will only begin paying as capacity becomes available for lease. Nvidia said it will provide support for “defined portions of lease and power payments,” aiding a project that will lead to a large deployment of its AI chips. The Ohio data center complex as envisioned would be among the biggest in the world. Nvidia previously discussed providing a guarantee of as much as $250 billion to OpenAI for the data center lease, according to Bloomberg.
Over the past year, Nvidia has struck a series of deals with AI startups and invested in firms that are also major AI customers. The investments have split Wall Street investors due to potential concerns about an AI bubble and so‑called circular deals. However, it’s done well by Nvidia, with NVDA shares up over 20% YTD. NVIDIA’s stock fell a fraction of a percent on Monday following the Open AI data center announcement.
Presently, Analysts have maintained optimistic ratings on Nvidia with several recommending a Buy or Strong Buy. However, price targets vary significantly, with a notable high of $350 from Cantor Fitzgerald, suggesting diverse expectations on Nvidia’s future performance. Last week, leading global investment bank UBS has maintained its buy rating for Nvidia stock. Timothy Arcuri, the Managing Director at UBS, gave a double-digit price target for NVDA. In a note sent to clients on Friday (August 14, 2026), the analyst predicted that Nvidia could reach a high of $280.
