Nvidia bets $1.5 billion on massive Ohio data center project

The project represents a dramatic industrial conversion for the site, which currently sits on land owned by the U.S. Department of Energy. Once a hub for enriching uranium for nuclear weapons and Navy submarines, the location is slated to house a 9.2-gigawatt natural gas power plant. Building this energy infrastructure will cost an estimated $33 billion, a figure driven by a 66% surge in construction costs over the last two years.

Securing this site allows Nvidia to cement its hardware footprint as the facility grows from an initial 4.25 gigawatts. However, the scale of the energy demand poses broader economic risks. As SB Energy and other developers bring similar projects online, they will face stiff competition for natural gas supplies from export markets. Analysts warn this intersection of industry needs could push natural gas prices up to three times higher in specific regions.