Nvidia is in talks to invest as much as $3 billion in SB Energy, a subsidiary of SoftBank that is developing a major data center campus in Ohio for OpenAI, as the companies seek to assemble the financing needed for a massive expansion of artificial intelligence infrastructure, The Information reported on Saturday.

The proposed investment is part of broader discussions involving Nvidia, OpenAI and SB Energy over roughly $100 billion in credit support for the planned Ohio data center campus, according to the report, which cited people familiar with the negotiations.

Nvidia has discussed providing half of the proposed $3 billion investment when the Ohio project agreement is signed, with the remaining $1.5 billion potentially invested as part of SB Energy’s planned initial public offering, The Information reported.

SB Energy is targeting an IPO as soon as next month and could raise at least $5 billion through the offering, according to The Information.

The potential investment would deepen Nvidia’s involvement in the physical infrastructure underpinning the AI boom. Nvidia is best known for supplying the advanced processors used to train and run AI models, but the rapid expansion of AI workloads has created an equally significant need for data centers, electricity and financing.

SB Energy, which is also backed by OpenAI, develops large-scale power and data center infrastructure. Founded in 2019, the company is developing multiple data center campuses designed to serve growing demand from AI workloads.

The Ohio project is considered significantly viable because it forms part of OpenAI’s broader effort to secure the computing capacity required to train and operate increasingly powerful AI models.

The scale of the proposed financing illustrates the enormous capital requirements of the AI infrastructure buildout. Data centers require billions of dollars in construction spending, while the electricity systems needed to power them can require additional investments in generation, transmission and storage.

Nvidia’s potential $3 billion investment would therefore represent more than a conventional investment in an infrastructure company. It could help align one of the world’s largest AI chip suppliers with the companies responsible for building the facilities in which those chips will ultimately operate.

The discussions also point to the growing interconnected relationships among Nvidia, OpenAI and SoftBank.

Nvidia supplies much of the computing hardware required by AI developers, OpenAI is one of the industry’s largest consumers of computing capacity, while SoftBank has increasingly positioned itself as a major investor in AI infrastructure. SB Energy sits at the intersection of those interests by developing the power and data center facilities required to support AI workloads.

The proposed Ohio financing has also undergone a significant change in recent months.

The Wall Street Journal reported Friday that Nvidia had revised its plans to support the OpenAI data center project and was now expected to initially guarantee less than $120 billion, down from the $250 billion previously discussed. The reported reduction suggests that the financing structure for the Ohio project remains fluid as the companies determine how much capital and credit support will ultimately be required.

At the same time, the potential SB Energy investment could provide another route for Nvidia to participate directly in the infrastructure buildout without limiting its role to supplying chips.

The timing of SB Energy’s potential IPO is also notable. A public listing that raises at least $5 billion would provide the company with additional capital to expand its data center and power infrastructure portfolio at a time when AI companies are competing aggressively for access to electricity and computing capacity.

The broader AI investment cycle is now shifting toward physical infrastructure. The industry’s early spending focused heavily on GPUs and other specialized chips, but companies now need vast data center campuses, power plants, grid connections, and cooling systems to deploy those processors at scale.

That transition is creating opportunities for companies such as SB Energy while encouraging Nvidia and other technology firms to become more involved in financing the infrastructure ecosystem around AI.

If the reported investment goes ahead, Nvidia would have a direct financial stake in a company helping build the infrastructure required by one of its largest potential customers.

For OpenAI, meanwhile, securing sufficient data center capacity is becoming central to its ability to scale its AI systems. The Ohio project and the financing discussions surrounding it show the extent to which the next phase of the AI race will depend not only on model development and semiconductor supply, but also on access to enormous pools of capital and reliable power.

The proposed $3 billion Nvidia investment remains subject to negotiations, while the broader credit-support arrangement has yet to be finalized. But the talks highlight how the boundaries between AI developers, chipmakers, infrastructure companies and financial investors are becoming increasingly blurred as the industry enters a capital-intensive phase of expansion.

AI coding startup Cursor has officially become part of SpaceX, completing a deal that brings one of the fastest-growing developer AI companies into Elon Musk’s expanding technology empire.

Cursor confirmed the completion of the acquisition in a blog post, saying its integration with SpaceX will give it access to the aerospace company’s vast computing infrastructure and GPU capacity.

The transaction follows an agreement announced in April under which SpaceX and Cursor planned to develop technology together. The deal also gave SpaceX an option to acquire Cursor for $60 billion.

Two months later, after SpaceX became a publicly traded company, the companies said they would proceed with the acquisition.

Cursor’s completion announcement placed particular emphasis on SpaceX’s computing infrastructure, highlighting a strategic rationale that extends beyond a conventional software acquisition.

“Access to the largest fleet of GPUs in the world” will be available to Cursor as part of SpaceX, the company said.

“SpaceX is building the computing capacity needed to scale intelligence far beyond what exists today,” Cursor added. “Cursor will be one place where that intelligence becomes useful.”

The acquisition brings Cursor into a SpaceX ecosystem that is increasingly centered on computing capacity as well as rockets and satellites. SpaceX has been expanding its data-center infrastructure and renting computing resources to outside customers, including AI companies such as Anthropic and Google.

That infrastructure could give Cursor a significant advantage as AI coding systems become more computationally demanding.

AI coding tools are moving beyond autocomplete and simple code generation toward systems capable of planning software projects, writing and testing code, navigating large codebases, and executing multi-step development tasks. Supporting those capabilities at scale requires substantial computing resources, particularly as companies seek to run increasingly capable AI models.

Cursor’s integration with SpaceX could therefore allow the company to secure access to computing capacity internally rather than relying entirely on third-party cloud providers.

The deal also deepens the convergence between Musk’s companies. SpaceX acquired Musk’s AI company, xAI, earlier this year, bringing the AI developer and the space company under a single corporate structure. Cursor now adds a major developer-software business to that ecosystem.

The acquisition could create opportunities to combine AI models, computing infrastructure and software development tools. Cursor is expected to use SpaceX’s computing resources to train, deploy and operate AI systems while SpaceX gains a software platform through which advanced AI capabilities can be delivered directly to developers.

SpaceX’s expanding data-center operations are already attracting outside demand. The company has rented computing capacity to other technology companies, making its infrastructure an increasingly important part of its broader business strategy.

But the infrastructure expansion has also drawn scrutiny. SpaceX faces a lawsuit concerning pollution associated with gas turbines used to power its data-center operations, adding regulatory and environmental challenges to its rapidly expanding computing ambitions.

For Cursor, access to large-scale computing may become increasingly important as competition intensifies among AI coding platforms. Companies such as OpenAI, Anthropic, and Google are developing sophisticated coding agents, while startups compete to build products that can become embedded in professional software-development workflows.

Cursor’s acquisition by SpaceX gives it a different strategic position. Instead of competing solely as an independent application provider, it now sits within a company with access to large-scale computing infrastructure and a growing portfolio of AI businesses.

The $60 billion valuation attached to the acquisition option also reveals the extraordinary expectations surrounding AI coding technology. The transaction places a substantial value on Cursor’s ability to turn AI advances into tools that developers use every day.

The immediate significance of the acquisition, however, may lie less in the headline valuation than in the infrastructure it puts behind Cursor.

As AI systems become more capable, access to GPUs and data-center capacity is becoming a strategic asset. SpaceX’s decision to bring Cursor inside the company suggests it views AI software and computing infrastructure as complementary parts of the same business.

Cursor’s role, as the company put it, will be to turn that expanding computing capacity into practical software tools for developers.