Financing for the massive Port Washington data center is “on schedule,” according to a Feb. 3 statement by Oracle, one of the companies that would use the facility.

The unusual statement came in the wake of reports that there could be trouble brewing between OpenAI, another Port Washington facility partner, and chipmaker Nvidia, which has planned a huge investment in OpenAI.

The Wall Street Journal reported that discussions between Nvidia and OpenAI appear to be on shaky ground,

“Now a big chunk of OpenAI’s anticipated funding is in doubt,” the Journal report said. “This raises fresh questions about how OpenAI will pay for its estimated $1.4 trillion of commitments, including those to Oracle.”

In a statement on X on Feb. 3, Oracle offered reassurances that Port Washington and other projects were not at risk.

“Our partners’ financing for the Doña Ana County, NM; Shackelford County, TX; and Port Washington, WI data centers are secured at market standard rates, progressing through final syndication on schedule, and consistent with investment‑grade deals.”

Oracle plans to operate the data center campus in Port Washington alongside OpenAI and data center developer Vantage. The project is part of OpenAI and Oracle’s massive Stargate partnership to invest $500 billion in building a nationwide network of data centers to advance the companies’ artificial intelligence strategies.

In the City of Port Washington, the three companies have committed $15 billion to build the Lighthouse data center campus on roughly 1,644 acres of former farmland. Construction on a first phase of development broke ground in December of 2025 and is expected to finish in 2028.

On Feb. 2, reports emerged that Nvidia will not be investing $100 billion into OpenAI and will likely invest less.

In an effort to calm the anxiety of investors and critics, Sam Altman, CEO of OpenAI, posted on X:

“We love working with NVIDIA and they make the best AI chips in the world. We hope to be a gigantic customer for a very long time. I don’t get where all this insanity is coming from.”

As the back and forth continues with the Nvidia and OpenAI, Oracle posted on X on Feb. 2 that:

“The NVIDIA-OpenAI deal has zero impact on our financial relationship with OpenAI. We remain highly confident in OpenAI’s ability to raise funds and meet its commitments.”

On Jan. 30 The Wall Street Journal reported a deal between Nvidia and OpenAI “had stalled, after some inside Nvidia expressed doubts about the deal.” Nvidia’s CEO Jensen Huang told reporters in Taipei that the company would “absolutely be involved” with OpenAI’s latest funding round but it would not be investing more than $100 billion.

As the Port Washington data center campus project made its way through the city’s approval process in 2025, some city and regional opponents of the project had expressed concerns about the financing behind the project at city meetings in October and November amidst chatter of an AI bubble.

The city repeatedly sought to assure residents, saying Vantage assumed the project’s risk, as laid out in a development agreement approved in August. If the project falls through or is unable generate enough incremental tax revenue, Vantage won’t be paid back for its up-front investments through the $456 million tax incremental financing district approved in November.

Financing for the massive Port Washington data center is “on schedule,” according to a Feb. 3 statement by Oracle, one of the companies that would use the facility.

The unusual statement came in the wake of reports that there could be trouble brewing between OpenAI, another Port Washington facility partner, and chipmaker Nvidia, which has planned a huge investment in OpenAI.

The Wall Street Journal reported that discussions between Nvidia and OpenAI appear to be on shaky ground,

“Now a big chunk of OpenAI’s anticipated funding is in doubt,” the Journal report said. “This raises fresh questions about how OpenAI will pay for its estimated $1.4 trillion of commitments, including those to Oracle.”

In a statement on X on Feb. 3, Oracle offered reassurances that Port Washington and other projects were not at risk.

“Our partners’ financing for the Doña Ana County, NM; Shackelford County, TX; and Port Washington, WI data centers are secured at market standard rates, progressing through final syndication on schedule, and consistent with investment‑grade deals.”

Oracle plans to operate the data center campus in Port Washington alongside OpenAI and data center developer Vantage. The project is part of OpenAI and Oracle’s massive Stargate partnership to invest $500 billion in building a nationwide network of data centers to advance the companies’ artificial intelligence strategies.

In the City of Port Washington, the three companies have committed $15 billion to build the Lighthouse data center campus on roughly 1,644 acres of former farmland. Construction on a first phase of development broke ground in December of 2025 and is expected to finish in 2028.

On Feb. 2, reports emerged that Nvidia will not be investing $100 billion into OpenAI and will likely invest less.

In an effort to calm the anxiety of investors and critics, Sam Altman, CEO of OpenAI, posted on X:

“We love working with NVIDIA and they make the best AI chips in the world. We hope to be a gigantic customer for a very long time. I don’t get where all this insanity is coming from.”

As the back and forth continues with the Nvidia and OpenAI, Oracle posted on X on Feb. 2 that:

“The NVIDIA-OpenAI deal has zero impact on our financial relationship with OpenAI. We remain highly confident in OpenAI’s ability to raise funds and meet its commitments.”

On Jan. 30 The Wall Street Journal reported a deal between Nvidia and OpenAI “had stalled, after some inside Nvidia expressed doubts about the deal.” Nvidia’s CEO Jensen Huang told reporters in Taipei that the company would “absolutely be involved” with OpenAI’s latest funding round but it would not be investing more than $100 billion.

As the Port Washington data center campus project made its way through the city’s approval process in 2025, some city and regional opponents of the project had expressed concerns about the financing behind the project at city meetings in October and November amidst chatter of an AI bubble.

The city repeatedly sought to assure residents, saying Vantage assumed the project’s risk, as laid out in a development agreement approved in August. If the project falls through or is unable generate enough incremental tax revenue, Vantage won’t be paid back for its up-front investments through the $456 million tax incremental financing district approved in November.