3 6 Ke·2025-09-24 08:31Core Insights - Nvidia plans to invest $1 billion in OpenAI, which will be used to build five new data centers in collaboration with Oracle and SoftBank, increasing the capacity of the "Stargate" project to nearly 7GW, equivalent to seven large nuclear reactors [1][10] - The partnership between OpenAI, Oracle, and Nvidia strengthens a triangular relationship, with OpenAI purchasing Oracle's cloud services, Oracle acquiring Nvidia GPUs, and Nvidia investing in OpenAI [2][10] - OpenAI's future plans for computational infrastructure will involve new partnerships and ideas, indicating a shift away from previous collaborations with Microsoft [5][14] Data Center Development - The five new data centers will be developed in partnership with Oracle and SoftBank, with three located in Texas, New Mexico, and an undisclosed Midwestern location, and two operated by SB Energy in Ohio and Texas [6][10] - The existing data center in Abilene, Texas, is a joint venture between OpenAI and Oracle, which is undergoing expansion to reach a capacity of 4.5GW [7][9] - Oracle is constructing eight data center halls in Abilene, each with a capacity of approximately 100MW, which will house over 400,000 GPUs, totaling 1.4GW [9] Financial Considerations - Nvidia's $100 billion investment in OpenAI is structured to be released in tranches, with $10 billion allocated for every 1GW of capacity completed, with the first phase expected to be completed by mid-next year [10][12] - The cost of building each 1GW AI data center is estimated at $500 billion, raising questions about OpenAI's ability to finance the remaining costs beyond Nvidia's investment [12] - Moody's has expressed concerns regarding OpenAI's cash flow to meet its contractual obligations with Oracle, highlighting potential financial risks [12] Strategic Shifts - The "Stargate" initiative is now seen as a collective term for all of OpenAI's data center projects, with SoftBank's CEO Masayoshi Son initially positioned to lead the project [13] - Microsoft appears to be sidelined in the "Stargate" project, indicating a cooling relationship between Microsoft and OpenAI [14]