Nvidia’s decision to invest up to 100,000 million dollars in Openai, while placing to supply millions of its leading artificial intelligence chips in the market to the Chatgpt creator, has few precedents in the technology industry.
By virtue of the agreement, Nvidia will acquire a financial participation in one of its main clients, but without receiving any right to vote in return, said a person close to OpenAI. The Chatgpt manufacturer will receive part, but not the totality, of the capital it needs for its ambitious plans to build the expanding supercomputer necessary to develop the new generations of AI.
The initial investment of 10,000 million dollars of NVIDIA would be allocated to a capacity gigawatio using its next -generation Vera Rubin chips, with a development that will begin in the second semester of 2026.
The agreement raises many questions. These are five of the most important:
Where does the rest of the money come from?
In a telephone conference on results in August, the executive director of Nvidia, Jensen Huang, said that the construction of AI data centers costs approximately 50,000 million dollars per capacity Gigavatio, and that approximately 35,000 million dollars of that money will go to chips and nvidia equipment.
Nvidia promised to invest in Openai to help him build 10 capacity gigawatts in data centers, or approximately 10,000 million dollars per Gigavatio. This leaves approximately 40,000 million dollars in additional capital necessary for each capacity of capacity that OpenAi plans to build. Openai did not indicate whether he agrees with the cost estimates of Huang or, if so, where he would get the additional funds.
Openai did not respond to a request for comments on his financing plans.
What does it mean for OpenAi efforts to become a company for profit?
OpenAI is a non -profit corporation, a structure that goes back to its beginnings as a research group in AI. He has been looking to change to a more conventional structure that allows him to raise funds and make a public sales offer more easily.
Openai held extensive conversations with Microsoft, one of the main shareholders who financed Openai’s initial computer needs, to change its structure. Earlier this month, both companies announced to have reached a provisional agreement for the conversion of OpenAI in a profit corporation for profit, supervised by the non -profit organization of OpenAI. However, this measure still requires the approval of the state authorities of Delaware and California.
On Monday, a person familiar with the matter declared Reuters that Nvidia would make an investment in cash in OpenAI, similar to that of other OpenAI investors. In addition, the initial investment of 10,000 million dollars of Nvidia will not begin until OpenAI and NVIDIA reach a definitive agreement in the coming months.
It was not clear immediately if Nvidia planned to invest in the non -profit entity of OpenAI or if their plans depend on OpenAI’s conversion into a public benefit corporation supervised by a non -profit organization.
We recommend: NVIDIA will invest 100,000 million pesos in OpenAI as competition intensifies in AI data centers
What does this mean for OpenAi’s assessment?
OpenAI is currently valued at 500,000 million dollars, and a person familiar with the matter declared Reuters that the initial investment of 10,000 million dollars of NVIDIA for a capacity gigavatio would be located in that assessment.
However, neither Nvidia nor Openai gave a period for the implementation of the total capacity of 10 gigawatts nor for the investment of 100,000 million dollars. Nor was it clarified whether the subsequent investments of NVIDIA in OpenAI will be made with the current assessment of OpenAI or with the valuation of the company at the time of each investment.
What does this mean for competition?
The agreement between Nvidia and Openai could imply that NVIDIA allocates a significant amount of their chips, which continue to have a great demand several years after the AI boom and whose access can determine the success or failure in this field, to a single client of which he is also a shareholder.
An important question is whether Openai’s rivals, such as Anthropic, or even Microsoft, who compete with OpenAi to sell AI technology to companies, will retain access to NVIDIA chips. The agreement also raises doubts about whether AMD, which aspires to compete with NVIDIA in the sale of chips to OpenAi and other companies, will have a viable opportunity to sell chips to AI companies.
“Our investments will not change our approach or affect the supply to our other clients; we will continue to prioritize each client, with or without shareholding,” said a spokesman for Nvidia to Reuters on Tuesday.
What does this mean for Oracle?
Oracle announced at the beginning of this month the signing of contracts for hundreds of billions of dollars to provide cloud computing services to OpenAi and other large clients, which fired their shares and turned its co -founder, Larry Ellison, one of the richest people in the world.
But one of the key questions that persist after that forecast – and a question that raised the Moody’s debt rating – is if OpenAi has the cash to pay the contracts.
On Monday, shortly before Nvidia’s announcement, Oracle reaffirmed her prognosis by appointing two new executive directors. It is possible that Nvidia’s investment plans strengthen Oracle’s income forecasts, since a key client, OpenAI, has new capital commitments.
With Reuters information
Subscribe to our YouTube channel and do not miss our content
