AI data centre delays can now expose developers to compensation costs of $5 million or more per day, turning power and construction schedules into a direct financial risk. A SoftBank-backed SB Energy project in Ohio could owe OpenAI rent credits if delivery is delayed. Earlier this spring, a tenant had sought delay compensation of $1 million a day.
Power supply holds back data centre openings
The AI infrastructure debate often centres on chips, but those systems need data centres with reliable power. Energy research firm Currence identified electricity as a leading obstacle for new data centre projects in July. If grid connections or power infrastructure are not ready on schedule, a facility may be unable to start operating even when its buildings and equipment are complete.
Delay clauses reflect the importance large AI customers place on delivery dates. A late opening can leave tenants without planned computing capacity, while developers may face rent reductions or other contractual costs. At several million dollars a day, those obligations can build quickly and weigh on project cash-flow expectations.
SB Energy deal could mean 640 days of rent credits
SoftBank-backed SB Energy is building a 10-gigawatt campus in Ohio for OpenAI. Terms disclosed in SB Energy’s IPO filing provide for base-rent credits if the project opens late: OpenAI receives one day of rent credit for each day of delay. Once a delay exceeds 90 days, the credit accrues at two days for every additional day of delay. If delivery slips by a full year, the total would amount to 640 days of rent credits.
The arrangement ties the construction schedule directly to the project’s economics. A delay could postpone rental income or the start of operations while also adding rent-credit costs for the developer. For capital-intensive infrastructure projects, actual power availability and delivery milestones are therefore important in assessing contractual exposure.
IPO valuation faces scrutiny alongside delivery risks
Investors have raised concerns as SB Energy seeks a $50 billion IPO valuation. As the cost of building AI data centres and the liabilities associated with delays draw greater attention, the project’s ability to secure power and meet delivery conditions is also relevant to its operating prospects and risk profile.
The disclosed contract sets out a stepped rent-credit mechanism. Whether the Ohio project is delayed, and whether the provisions are triggered, will depend on construction and commissioning progress.