---
title: "PORTS-Pike (SB Energy; OpenAI), Pike County, Ohio, US — campus ledger — The AI Compute Race — DRYBURGH · The Compute Economy"
source: https://dryburgh.com/vol1/ledger/ports-pike
description: "PORTS-Pike: not yet due. 0 MW evidenced of 8,000 MW announced or estimated, end of August 2026 reading; first power promised by 31 December 2028."
---

# PORTS-Pike (SB Energy; OpenAI), Pike County, Ohio, US

SB Energy (landlord); OpenAI (tenant)

PORTS-Pike (SB Energy and OpenAI; Pike County, Ohio, US) was promised first power by 31 December 2028; at the end-of-August 2026 reading the public record evidences 0 MW of IT load against 8,000 MW announced or estimated. The book’s verdict: not yet due.

From *The AI Compute Race*. [Read the book](https://dryburgh.com/vol1#buy)

Download this campus: [CSV](https://dryburgh.com/vol1/data/ledger-ports-pike.csv) · [JSON](https://dryburgh.com/vol1/data/ledger-ports-pike.json)

Announced or estimated (IT load) 8,000 MW

Evidenced power (IT load), end of August 2026 0 MW

The book’s verdict Not yet due

The ledger’s reading is the end of August 2026: the promises and the states as they stood then. Each row’s evidence carries its own date, printed on it.

The promise and the record, on one line. The book’s verdict: **Not yet due**.

- Evidence read 1 September 2026
- Today Nov 2026
- Promised 31 December 2028

**0 MW** evidenced at the end-of-August 2026 reading, of 8,000 MW announced or estimated (0%).

## The announcement

**Announced or estimated capacity (IT load):** 8,000 MW

**Where the announcement was read:** [openai.com](https://openai.com/index/openai-joins-ports-pike-project/)

**When it was read:** 17 August 2026

## The promise

**Promised by:** 31 December 2028

**What was promised:** first power

**Where the promise was read:** [openai.com](https://openai.com/index/openai-joins-ports-pike-project/)

## At the close of the record

**Evidenced power (IT load), end of August 2026:** 0 MW

**Where the evidence was read:** [sec.gov](https://www.sec.gov/Archives/edgar/data/2133037/000162828026059639/sbenergy-sx1.htm)

**When it was read:** 1 September 2026

**The book’s verdict:** Not yet due

## The book’s note

The first 800 MW targeted for 2028 (a bare year, read to 31 December). SB Energy’s S-1 counts none of its IT capacity operating and its construction outside Ohio. Slippage matrix row 3.

## Also

**Who is involved:**

- owner [SB Energy](https://dryburgh.com/vol1/parties/sb-energy)
- tenant [OpenAI](https://dryburgh.com/vol1/parties/openai)

## Filings that bear on it

- [SB Energy, Inc., Form S-1 registration statement, filed 1 September 2026](https://dryburgh.com/vol1/filings/sbe-s1) SB Energy’s registration statement shows 17 leases to an OpenAI affiliate for about 8 gigawatts of IT capacity at PORTS-Pike, $105 billion of NVIDIA guaranties on the first 4.25, and Milam County under construction, none yet operating.
- [SB Energy, Inc., Amendment No. 2 to Form S-1, filed 21 September 2026](https://dryburgh.com/vol1/filings/sbe-s1a-sep26) SB Energy’s amended registration statement of 21 September 2026 phases Milam County’s grid connection from August 2026 to March 2027 for about 660 megawatts, its Texas energization still subject to ERCOT’s and the state commission’s audit.
- [NVIDIA Corporation, CFO Commentary for the second quarter of fiscal year 2027, exhibit to the Form 8-K filed 26 August 2026](https://dryburgh.com/vol1/filings/nvda-cfo-commentary-q2fy27) NVIDIA’s finance chief’s commentary on its quarter to 26 July 2026 caps its guarantees for 4.25 gigawatts at SB Energy’s PORTS-Pike campus, leased to OpenAI, at $105 billion and says each generation there could mean about 1.5 million GPUs.
- [SB Energy, Inc., Form of PORTS-Pike Technology Campus Lease Agreement, Exhibit 10.30 to Amendment No. 1 to Form S-1, filed 4 September 2026](https://dryburgh.com/vol1/filings/sbe-s1a1-ex1030) SB Energy’s form of PORTS-Pike lease lets the tenant object within ninety days of the lease date to anything materially affecting its underwriting, and terminate on thirty days’ notice if the objection is not cured.
- [SB Energy, Inc., Form of PORTS-Pike Residual Value Guaranty, Exhibit 10.31 to Amendment No. 1 to Form S-1, filed 4 September 2026](https://dryburgh.com/vol1/filings/sbe-s1a1-ex1031) SB Energy’s form of NVIDIA’s residual value guaranty for the Piketon, Ohio, campus ends on any of nine events, the first the tenant’s termination of the lease, and also if both sides agree development is infeasible.
- [NVIDIA, Form 10-Q for the quarter ended 26 July 2026, filed 26 August 2026](https://dryburgh.com/vol1/filings/nvda-10q-jul26) NVIDIA’s report for the quarter ended 26 July 2026 shows revenue of $96.2 billion, $7.9 billion from customers based in China and Hong Kong, and guarantees capped at $105 billion for SB Energy’s Ohio campus leased to OpenAI.
- [NVIDIA Corporation, Form of Residual Value Guaranty, Exhibit 10.1 to the Form 10-Q for the quarter ended 26 July 2026, filed 26 August 2026](https://dryburgh.com/vol1/filings/nvda-rvg-ex101) NVIDIA’s form of residual value guaranty for a Piketon, Ohio lease caps its liability across related guaranties at $105 billion and ends automatically only on listed events, including a tenant credit rating or twenty years from commencement.
- [NVIDIA Corporation, Form 8-K, date of earliest event reported 17 August 2026](https://dryburgh.com/vol1/filings/nvda-8k-aug26) NVIDIA reported on 17 August 2026 residual value guaranties, capped at $105 billion, for SB Energy’s leases of about 4.25 gigawatts at the PORTS Technology Campus in Pike County, Ohio, with an OpenAI affiliate as tenant.

## Campuses near it in the ledger

- [Stargate Lordstown](https://dryburgh.com/vol1/ledger/stargate-lordstown) Ohio, US · shares a party
- [Prometheus](https://dryburgh.com/vol1/ledger/prometheus) Ohio, US
- [Google New Albany](https://dryburgh.com/vol1/ledger/google-new-albany) Ohio, US
- [Stargate Milam County](https://dryburgh.com/vol1/ledger/stargate-milam-county) shares 2 parties
- [Stargate Doña Ana / Project Jupiter](https://dryburgh.com/vol1/ledger/stargate-dona-ana-project-jupiter) shares a party
- [Stargate Shackelford / Frontier](https://dryburgh.com/vol1/ledger/stargate-shackelford-frontier) shares a party

## Questions about this campus

**Is PORTS-Pike energized?:** PORTS-Pike (SB Energy and OpenAI; Pike County, Ohio, US) was promised first power by 31 December 2028; at the end-of-August 2026 reading the public record evidences 0 MW of IT load against 8,000 MW announced or estimated. The book’s verdict: not yet due.

**When was PORTS-Pike promised to be energized?:** PORTS-Pike was promised first power by 31 December 2028.

**Who is building PORTS-Pike?:** SB Energy (owner), OpenAI (tenant).

- [Tests](https://dryburgh.com/vol1/tests)
- [Scorecard](https://dryburgh.com/vol1/scorecard)
- [Data](https://dryburgh.com/vol1/data/releases)
- [Chapter by chapter](https://dryburgh.com/vol1/companion)
- [The record at a glance](https://dryburgh.com/vol1/observatory)
- [The machine](https://dryburgh.com/vol1/machine)
- [One campus, four futures](https://dryburgh.com/vol1/hyperion)
- [Glossary](https://dryburgh.com/vol1/glossary)
- [People](https://dryburgh.com/vol1/people)
- [Sources](https://dryburgh.com/vol1/sources)
- [Notes](https://dryburgh.com/vol1/notes)
- [Where the book was wrong](https://dryburgh.com/vol1/corrections)
- [Where its sources were wrong](https://dryburgh.com/corrections?book=vol1)
- [The Paper](https://dryburgh.com/vol1/paper)
- [Consent](https://dryburgh.com/vol1/consent)
- [Who builds and pays](https://dryburgh.com/vol1/parties)

*The AI Compute Race: Five Races, One Machine* is a book by Lee S. Dryburgh, the first volume of THE COMPUTE ECONOMY, published by Dryburgh, an imprint of Contestra OÜ, Tallinn, Estonia; its record closes on 8 November 2026.

[About the book](https://dryburgh.com/vol1)[Tell me when it is out](https://dryburgh.com/vol1#notify)