The billion-dollar money shuffle between OpenAI, Nvidia, and Oracle
Jakob Steinschaden 23. September 2025, 11:37
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Nvidia eventually has to sell stock in OpenAI.
AI investments are booming. Here’s a list of multibillion-dollar deals from Nvidia, Oracle, and more
Since OpenAI’s launch of ChatGPT in 2022, investments in AI infrastructure have surged.
yahoo.com
Nvidia’s investment in OpenAI will be in cash, and most will be used to lease Nvidia chips
Published Wed, Sep 24 2025
MacKenzie Sigalos Ari Levy CNBC
Key Points
- With Nvidia’s massive planned investment in OpenAI, the chipmaker will get equity in the AI startup and will earn revenue at the same time.
- OpenAI is leasing Nvidia’s graphics processing units, allowing the company to pay for the costly processors over time.
- Investors are concerned about “the circular nature of this deal goosing up everyone’s earnings and everyone’s numbers,” said Jamie Zakalik, an analyst at Neuberger Berman.
The agreement between the two companies was big on numbers but thin on specifics. They said the investment would reach up to $100 billion, paid out as AI supercomputing facilities open in the coming years, with the first one coming online in the second half of 2026.
The timing of the buildouts and the cost of each data center remains up in the air. However, what’s become clear is that OpenAI plans to pay for Nvidia’s graphics processing units (GPUs) through lease arrangements, rather than upfront purchases, according to people familiar with the matter who asked not be named because the details are private.
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