不请投行、不请律所，OpenAI“独立完成”高达1.5万亿美元的交易，“专注算力，财务细节稍后再谈”

Core Insights - OpenAI's core executive team, led by CEO Sam Altman, successfully completed a $1.5 trillion chip supply deal with minimal external advisory involvement, focusing on speed and technical aspects over financial details [3][4][5] - The urgency of the AI arms race has overshadowed traditional business prudence, with OpenAI adopting a "get the chips first" approach [4][6] - The team demonstrated remarkable execution efficiency through various agreements, including a $119 billion power exchange deal with CoreWeave and a $350 billion chip procurement commitment with NVIDIA [3][4][7] Team Dynamics - Altman envisioned the partnerships, while key executives like Greg Brockman and Sarah Friar executed the structural design and governance arrangements [5][6] - Friar, a former CEO of Nextdoor, played a crucial role in securing financing for these transactions, leveraging her extensive financial background [6][7] - The small team led by Peter Hoeschele focused on enhancing computational supply to meet Altman's ambitious goal of 1 gigawatt per week [6][7] Transaction Models - The initial $119 billion agreement with CoreWeave involved purchasing computational power in exchange for equity, which later expanded to over $220 billion [7][8] - Many subsequent deals began with chip companies proactively reaching out to OpenAI for collaboration, relying on trust between Altman and the counterparties [8][9] - Direct negotiations with chip giants like NVIDIA and AMD were conducted without external advisors, streamlining the process [10][11] Strategic Partnerships - NVIDIA agreed to invest up to $100 billion in OpenAI in exchange for a commitment to spend up to $350 billion on 10 gigawatts of chips [11] - The partnership with AMD involved discussions over several years, culminating in a deal for purchasing 6 gigawatts of chips in exchange for warrants to buy up to 10% of AMD at a nominal price [11] - OpenAI's collaboration with Oracle, valued at $300 billion over five years, originated from a chance opportunity when a previous client exited a data center project [12]