OpenAI, 115 billion USD in spending by 2029 - Growth comes due to higher costs for chips, data centers
OpenAI has sharply increased its projected net spending through 2029, to $115 billion. The move comes as the startup ramps up investments to power the artificial intelligence behind its popular chatbot ChatGPT. The new projection is $80 billion higher than its previous expectations.
OpenAI, which has already become one of the world's largest tenants of cloud servers, predicts that it will spend over $8 billion this year alone, about $1.5 billion more than its earlier forecast for 2025.
To curb rising costs, the startup will try to develop its own chips and data centers. According to a report from the Financial Times, OpenAI is expected to produce its first artificial intelligence chip next year, in partnership with US semiconductor giant Broadcom. The company intends to use the chip only for internal use, not to sell to customers.
In July, OpenAI deepened its partnership with Oracle, planning to build 4.5 gigawatts of data centers as part of its "Stargate" initiative. The $500 billion, 10 gigawatts-capacity project also includes Japanese investor SoftBank Group. The company has also added Google Cloud to its list of suppliers for computing power.
According to sources, OpenAI's net costs will double to over $17 billion next year, $10 billion more than previously forecast. Meanwhile, the company is expected to spend $35 billion in 2027 and $45 billion in 2028.
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