Nvidia OpenAI investment in cash mostly used to lease Nvidia chips
Openai CEO Sam Altman, September 23, 2025, Texas, Abilene, Openai Data Center in Texas, a question -after -answer speaks in the media.
Shelby Tauber | Reuters
Nvidia’s The huge investment in Openai, which was announced at the beginning of this week, will put billions of dollars to use as well as the funds of the artificial intelligence attempt. However, most of the money will be used to use Nvidia’s latest chips.
. agreement Among the two companies, the number was large but weak in details. He said that the investment will reach up to 100 billion dollars, that it will be paid as AI Super Computer Facilities in the coming years and the first one will come online in the second half of 2026.
The timing of the structures and the cost of each data center remain in the air. However, what is clear is that Openai plans to pay through rental arrangements for graphic processing units (GPU) rather than open purchases, according to people who want Openai not to be named because the details are special.
Nvidia CEO Jensen Huang, who describes this week’s agreement as a “monumental”, estimated that a capacity AI data center is roughly $ 50 billion and that 35 billion dollars were used to pay for NVIDIA’s GPUs. By renting processors, Openai can spread its costs on the beneficial life of the GPUs, which can be up to five. One person said Nvidia leaving more risks.
Earlier Information reported In some aspects of the rental arrangement.
Nvidia agreed to invest over time as Openai’s data centers got up. A source told CNBC, the first 10 billion dollars will be available for Openai and will help the company work to distribute its first Gigawatt capacity.
NVIDIA’s Özkaynak investment can help Openai in recruitment, marketing and operations, while the biggest item to be used is calculation. And this is almost entirely entirely for NVIDIA’s GPUs, building large language models and building the educational and AI workloads.
As an out -of -investment initiative lacking positive cash flow, financing is costly. Openai executives called their own centers of self -centers and said the company was preparing to borrow to meet the rest of the expansion.
In addition to providing a cost -effective way for Openai to reach Openai, NVIDIA’s rent option and long -term commitment can help the company’s better conditions from banks to raise its debt.
A Nvidia spokesman refused to comment.
‘PAYS TO BE PAYED’
Abilene, which hosts the first new data center, pointed out the role of Openai Cfo Sarah Frriar, Oracle and Nvidia in financing. ProphecyOne of Openai’s partners in the Stargate project is renting the Abilene facility and Openai will finally pay for operations.
“People like Oracle put their balance sheets to work to create these amazing data centers that you see behind us.” He said. “In the case of Nvidia, they bring some equality together to jump, but more importantly, as these chips are distributed, they will receive payment for all these chips.”
He said that all major partners are necessary to help alleviate a dramatic capacity shortage.
“I think we should focus on today, not enough calculation.” He said. “As the business grows, we will be more than paying what is in our future. – More calculations come more. “
September 23, 2025, Abilene, Texas, the USA during the Openai Data Center tour in the USA.
Shelby Tauber | Reuters
Nevertheless, the Openai-Nvidia agreement has caused some concerns about the sustainability of AI explosion.
Nvidia’s march to a $ 4.3 trillion market value was directed by GPU sales to Openai and technology to Megacaps. Google– Meta– Microsoft And Amazon. Openai’s way to a private market valuation of $ 500 billion was provided by heavy investments that allow the company to burn billions of dollars in cash while building the AI models, including Microsoft and the company’s Chatgpt.
Neuberger Berman Analyst Jamie Zakalik said that the Nvidia agreement was the last example of Openai’s money that Openai was poured back into the company that provides capital.
Zakalik is worried about the “circular nature of this agreement that increases everyone’s earnings and the number of everyone”. “But it doesn’t actually create anything.”
Asked about these fears, Altman told CNBC that the company focuses on increasing real demand.
“We need to continue to sell services to consumers and businesses and build these wonderful new products where people pay us a lot of money.” He said. “As long as this continues to be, most of these data centers pay a lot of chips.”
– Kif Leswing from CNBC contributed to this report
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