Zheng Quan Shi Bao Wang·2025-10-08 14:15Core Insights - Major tech companies in the US are accelerating investments in AI infrastructure amid the Federal Reserve's interest rate cuts, with xAI, a startup by Elon Musk, reportedly raising $20 billion in funding [1][2] - Nvidia's CEO confirmed the company's investment in xAI, which includes up to $2 billion in equity financing as part of the ongoing funding round [2][3] - AMD and OpenAI have expanded their partnership with a $1 billion chip procurement agreement, utilizing an innovative "equity-for-chips" payment model [4] Company Developments - xAI is raising more funds than initially planned, with the financing structure involving approximately $7.5 billion in equity and up to $12.5 billion in debt [2] - Nvidia's investment in xAI is part of a broader strategy to support AI startups, with the CEO expressing regret for not investing in OpenAI earlier [2][3] - OpenAI's procurement agreement with AMD includes the issuance of up to 160 million stock warrants, which will be exercised based on specific milestones [4] Market Performance - Following the announcement of the OpenAI procurement agreement, AMD's stock surged nearly 24%, closing at $211.51 per share, with a total market capitalization of $343.2 billion [5] - The Nvidia industry chain index in the A-share market has risen 65% this year, with significant gains in sectors such as PCB and optical modules [6] Industry Trends - Several companies have entered the Nvidia or AMD supply chains, indicating a growing ecosystem around AI infrastructure [7][8] - The storage market is projected to reach $193.2 billion by 2025, driven by strong demand from AI servers and data centers [8]