Di Yi Cai Jing·2025-09-23 23:30Core Insights - OpenAI, Oracle, and SoftBank announced plans to build five AI data centers in the U.S. with an expected investment exceeding $400 billion over the next three years, aiming for a computing capacity close to 7 gigawatts, with a long-term goal of expanding to 10 gigawatts [1][2] - The project is part of the "Stargate" initiative, which has a total investment target of $500 billion, marking one of the largest AI data center expansions in history [1] - OpenAI's CEO, Sam Altman, emphasized that the development of AI relies on substantial computing power, stating that sufficient computational capacity is essential for AI to fulfill its potential [1] Investment and Job Creation - The project is expected to create approximately 25,000 onsite jobs, highlighting its potential impact on local employment [2] - Former President Trump publicly supported this initiative, underscoring the strategic importance of AI for the U.S. economy and national security [2] Market Reactions and Concerns - Nvidia announced plans to invest up to $100 billion in OpenAI to supply millions of AI chips for the next-generation data center construction, with the collaboration potentially leading to energy consumption exceeding 10 gigawatts [2] - Market analysts have expressed skepticism regarding the unprecedented scale of this investment, with concerns about "circular trading," where AI companies rely on financing to expand data centers, thereby maintaining continuous procurement of Nvidia products [2] - Bernstein analyst Stacy Rasgon noted that the size of this deal far exceeds previous cases, raising questions about its underlying rationale [2] - According to PitchBook, Nvidia participated in over 50 AI-related venture capital deals in 2024, with expectations of setting new records this year, although there are worries that the significant investment in OpenAI could exacerbate valuation bubble issues within the AI industry [2]