Nvidia, 100 billion USD investment in OpenAI / The two giants join forces for artificial intelligence
Nvidia will invest up to $100 billion in OpenAI and supply it with chips for data centers, the companies announced, marking a merger between two of the most high-profile players in the global artificial intelligence race.
The move underscores the increasingly overlapping interests of various tech giants developing advanced artificial intelligence systems. The deal gives chipmaker Nvidia a financial stake in the world's leading artificial intelligence company, which is already a major customer.
At the same time, the investment gives OpenAI the cash and access it needs to buy advanced chips that are key to maintaining its dominance in an increasingly competitive landscape. Rivals of the two companies may be concerned that the partnership will undermine competition.
The deal will involve two separate but intertwined transactions, according to a person familiar with OpenAI. Nvidia will begin investing in OpenAI for non-voting shares once the deal is finalized, then OpenAI can use the money to buy Nvidia chips.
The two companies signed a memorandum of understanding to deploy at least 10 gigawatts of Nvidia systems to OpenAI and said they aim to finalize details of the partnership in the coming weeks. The power for these chips is equivalent to the needs of more than 8 million American households.
Nvidia shares rose as much as 4.4% after the announcement to an intraday record, while data center builder Oracle gained about 6%. Oracle is working with OpenAI, SoftBank and Microsoft on a $500 billion project called Stargate, a plan to build massive AI data centers around the world.
Under the new deal, once the two sides reach a final agreement, OpenAI will acquire Nvidia Systems, which will invest an initial $10 billion. OpenAI was recently valued at $500 billion.
Analysts said the deal was positive for Nvidia, but also expressed concerns about whether some of Nvidia's investment dollars could be returned to it in the form of chip purchases.
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