With the announcement of cooperation with NVIDIA, Oracle and AMD, OpenAI is clearly promoting an unprecedented "AI closed-loop economy" experiment. OpenAI CEO Sam Altman recentlyWhen interviewedIt was revealed that the cooperation announced so far is just the beginning, and more similar major cooperation deals will be announced in the coming months.
Sam Altman stated that as the company's confidence in future model capabilities and computing power requirements continues to grow, OpenAI has decided to launch a "very aggressive" infrastructure investment. The core of this strategy is to bring key suppliers together to form a community of interests, through cross-investment and resource integration, to jointly build a fundamental computing ecosystem for the AI era.
In a series of collaborations this year, OpenAI has signed with Oracle and SoftBankA massive infrastructure project codenamed "Stargate", with a total investment of $5000 billion to build 10 GW of data centers in the United States. At the same time, OpenAI is also collaborating with NVIDIA and AMD to plan AI computing deployments exceeding 16 GW.
However, the key to these collaborations is not just the scale of computing power, but the unique transaction structure behind it. NVIDIA is expected to invest in OpenAI.Up to $1000 billion, and became a shareholder. In return, OpenAI will purchase a large number of NVIDIA GPUs and server equipment. This has been described as a "circular financing" mechanism for AI, where suppliers use investment funds to support customers in purchasing their own products, creating a closed-loop economic model.
On the other hand, OpenAIAgreement with AMDThis also carries a strong element of financial innovation. AMD will provide OpenAI with warrants representing approximately 10% of the company as a condition of the partnership. This means OpenAI will become an AMD shareholder and can use the appreciation of its stock to partially cover GPU purchase costs.
Analysts pointed out that if AMD's stock price reaches a predetermined milestone, OpenAI's stock holdings could be worth as much as $1000 billion. NVIDIA CEO Huang Renxun told CNBC thatExclusive interviewAt the time, he thought AMD's move was quite "smart", but also explained that it was significantly different from NVIDIA's investment approach, and emphasized that the current cooperation is beneficial to both parties.
In an interview, Sam Altman stated that the current collaborative project is a "big gamble" on the future. He also emphasized that OpenAI's long-term development plan will far exceed the capabilities of existing models. If the inference and training needs of the future scale are to be met, it will be necessary to build a completely new infrastructure in terms of energy, hardware, cloud computing, and distribution. Therefore, he believes that every link, from infrastructure to model distribution, requires support from the entire industry.
However, doubts remain about OpenAI's financial viability. Currently, OpenAI's revenue for the first half of 2025 is only approximately $45 billion, a significant gap compared to the nearly $1 trillion in signed partnerships. Huang Renxun even revealed in an interview that OpenAI currently does not have enough funds to cover all equipment costs.
Furthermore, market rumors suggest that OpenAI is in talks with Broadcom regarding the design of its next-generation custom AI accelerator chip, with the order value exceeding $100 billion. If this news is true, it would give OpenAI another leg up in the computing power race and further reinforce Sam Altman's ambition to vertically integrate the AI industry chain, making OpenAI not just a provider of AI models but a hub for the entire industry.
