Saturday, 24 May, 2025
Oracle Invests $40 Billion in Nvidia Chips for OpenAI's Texas Data Center, Challenging Microsoft in AI Cloud Race
Oracle is investing approximately $40 billion to acquire 400,000 of Nvidia's GB200 AI chips for OpenAI's forthcoming data center in Abilene, Texas. This facility, part of the $500 billion Stargate Project, aims to reduce OpenAI's reliance on Microsoft. Oracle will lease the computing power to OpenAI under a 15-year agreement. The project is financed through $9.6 billion in debt from JPMorgan and $5 billion in equity from Crusoe and Blue Owl Capital.
Read full story at Economic Times