According to people familiar with the deal, the structure has two connected pieces: Nvidia will buy non-voting shares in OpenAI, and OpenAI will deploy that capital to purchase Nvidia systems. An initial $10 billion injection is slated once the hardware agreement is definitive. Deliveries could begin as early as late 2026, with the first 1 GW tranche rolling out in the second half of that year on Nvidia’s upcoming “Vera Rubin” platform.
OpenAI’s edge depends on reliable, massive compute. This pact gives the ChatGPT maker forward visibility on cutting-edge hardware while giving Nvidia a financial stake in the software layer it already powers, potentially reinforcing Nvidia’s role as the default supplier of AI infrastructure. For end users and creators, that can translate into faster model upgrades and more capable tools; for the broader market, it signals that AI capex and power needs will keep climbing.
The partnership lands amid parallel capacity pushes. OpenAI is also pursuing Stargate, a multi-year data-center program with Oracle and SoftBank that has been discussed at hundreds of billions of dollars in potential private investment, and it continues to explore custom chips with Broadcom and TSMC, efforts that are not displaced by the Nvidia deal.
Regulators are likely to examine the implications. U.S. antitrust authorities already split oversight of the sector in 2024, with the DOJ focusing on Nvidia and the FTC on Microsoft and OpenAI, frameworks that could shape any review of a tie-up of this size.
Source: Reuters
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