Look at the interlocking Openai network of deals

Openai CEO Sam Taman everywhere.

for him artificial intelligence Starting, now worth $ 500 billion, was Ink deals Its value is estimated at hundreds of billions of dollars with infrastructure partners, even as it continues Burning hills of money.

These expenses lead the market.

Nasdak and S & P 500 to Standard records This week after Nafidia He agreed to invest so 100 billion dollars In Openai. This follows a $ 300 billion in deal Between Openai and Oracle In July as part of Stargate, the $ 500 billion infrastructure project is also funded Softbank.

Its obligations do not stop there. Coruv He said on Thursday that it was agreed to provide Openai to up to up to 22.4 billion dollars In Amnesty International’s infrastructure, an increase from 11.9 billion dollars Initially announced in March. Earlier this month, the chips maker Broadcom He said he got new 10 billion dollars The customer and analysts were quick to refer to Openai.

While Openai says that scaling is the key to driving innovation and artificial intelligence achievements in the future, investors and analysts began to raise their eyebrows on the amounts of thinking, as well as Openai’s dependence on an increasing network of infrastructure partners.

Openai acquired $ 350 million in Coreweave before him Public subscription In March, for example. NVIDIA has made the official character to its financial share in Openai by participating in A. 6.6 billion dollars Funding round in October. Oracle spends about $ 40 billion on NVIDIA chips to operate a Stargate data centers in Openai, according to the A report from Financial times. Earlier this month, Kuruv I revealed an order At least $ 6.3 billion from Nafidia.

Through its $ 100 billion investments in Openai, NVIDIA will get royal rights to start operating Revenue At the same time.

Openai is expected to achieve only $ 13 billion revenues this year, according to the director of the financial director of Sarah Sarah. she CNBC said These technological mutations require bold stakes on infrastructure.

“When I started the Internet, people kept feeling like,” Oh, we are exaggerating, there is a lot. “See where we are today, right?”

Tell Altman Cnbc in August that he is ready to manage the company In loss In order to give priority to growth and its investments.

But some analysts raise red flags, on the pretext that Openai’s deal with Nvidia reminds us Seller’s financing patterns This helped in the explosion of the Dot-Com bubble in the early first decade of the twentieth century.

NVIDIA was the largest winner in the artificial intelligence boom so far because it produces the GPU processing units necessary to train models and operate large AI’s work burden. NVIDIA’s investment in Openai, which will be paid in installments for several years, will help start data centers that revolve around graphics processing units.

“You do not have to be skeptical of the promise of artificial intelligence technology in general to see this advertisement as a disturbing indication of the extent of self -space reference.” “If NVDA must save the capital whose revenues become to maintain growth, the entire ecosystem may be unnecessary.”

Peter Bokarar, chief investment employee at one point at BFG Wealth Partners, said that the names of companies from the late 1990s were ringing in his ears after announcing the Openai-Nvidia deal.

However, the main difference is that this treatment is “much larger in terms of dollars,” as he wrote in a note.

“For this entire huge experience to work without causing great losses, Openai and its peers now must generate huge revenues and profits to pay all the obligations they are registering, and at the same time, they offer their investors,” Boukar said.

A spokesman for Openai referred CNBC to comments from Altman and Friar this week, adding that the company continues “once in the century that requires an equal ambition for a moment.”

The total amount of ordering on the account can reach 200 gigawatts by 2030, according to Bain & Company’s 2025 Technology Report. Building sufficient data centers to meet this expected demand will cost about $ 500 billion annually, which means that artificial intelligence companies must generate $ 2 trillion annual revenues to cover these costs.

“Even if the companies are wearing their full weight behind investing in the centers of cloud and data,” the amount will remain less than $ 800 billion of revenues needed to finance full investment. “

There is a clear arduous battle forward, but Openai’s altman Get rid of fears On Tuesday, he rejected the idea that the infrastructure spending was exaggerated.

“This is what is necessary to deliver artificial intelligence,” Al -Taman told CNBC. “Unlike previous technological revolutions or previous versions of the Internet, there is a lot of required infrastructure, and this is a small sample of them.”

-Yun Li and Machenze Sigalos from CNBC in this report

He watches: Sam Altman from Openai defends Stargate’s expansion with high demand for artificial intelligence