Oracle(US:ORCL) 3 6 Ke·2025-09-25 03:19Core Insights - OpenAI and Oracle are advancing the $500 billion Stargate project, with the first site in Texas now operational [1] - The project aims to invest $400 billion over the next three years, ultimately reaching 7GW capacity [1] - Oracle plays a central role in the expansion, with a partnership to develop up to 4.5GW of new capacity valued at over $300 billion [2][3] Project Details - The first data center is located in Abilene, Texas, equipped with Oracle's cloud infrastructure and NVIDIA's chip racks [1] - The Abilene site is expected to expand to over 1GW capacity, enough to power approximately 750,000 American homes [1] - The project includes five new sites across Texas, New Mexico, Ohio, and an undisclosed Midwest location [1][2] Capacity and Demand - Oracle's new sites are projected to provide over 5.5GW of capacity to meet the growing demand for AI training and inference [3] - The construction scale is unprecedented, aimed at addressing the significant shortage of computing power required for AI operations [4] Financing Structure - The project is supported by a complex funding network, with OpenAI expected to pay for computing power through operational expenses [5] - OpenAI's revenue is projected to reach $13 billion this year, with plans to finance construction through cash flow and debt [5] - NVIDIA is also involved through equity investment, raising questions about the "circular financing" model [5] Political and Economic Implications - The Stargate project has significant political and economic dimensions, with OpenAI's vision extending beyond technology to global geopolitical influence [6][7] - The project is expected to create over 6,000 construction jobs and nearly 1,700 long-term positions [7] - OpenAI aims to reshape the U.S. power grid and enhance the country's global standing through this initiative [7]