Chipmaker equity plus credit support underwriting the OpenAI campus buildout — a reported ~$3B equity tranche (half at signing, half at the developer's planned IPO) layered inside a much larger reported ~$100B credit-support facility, itself revised down from an earlier ~$250B guarantee. All still in talks.
Funding stack underwriting the OpenAI campus buildout reported · in talks Fabless chipmaker needs buildout on schedule equity credit support funding stack equity at signing equity at IPO credit-support facility absorbs bank risk developer capital stack funding gap opens Ohio campus buildout SB Energy · OpenAI/Stargate commissioning slips next-gen GPU sales on commissioning revenue delayed on schedule grid: years