Overview

• Nvidia and OpenAI have a letter of intent to deploy at least 10 gigawatts of Nvidia-powered systems starting in 2026.
• Estimates suggest the buildout could need as many as 5 million GPUs and represent a $300 billion to $500 billion long-term revenue opportunity.
• Reports citing Reuters say Nvidia plans an initial $10 billion investment for non-voting shares once a definitive agreement is reached.
• Jensen Huang says the collaboration spans chips, software, systems and AI factories, and he describes OpenAI as a likely multi-trillion-dollar hyperscaler.
• Analysts warn of ‘circular’ financing and market concentration risks that could invite scrutiny, while Nvidia says the plan will not reduce supply for other customers.