Overview

• CEO Jensen Huang said Nvidia has invested about $2 billion in Elon Musk’s xAI and confirmed OpenAI is now purchasing systems directly from Nvidia for the first time.
• Huang noted OpenAI does not yet have the cash to pay for all planned equipment and will rely on growing revenue and future equity or debt financing.
• Bloomberg‑sourced reports say xAI is arranging roughly $20 billion of funding via an SPV that buys Nvidia GPUs for its Colossus 2 deployment, with Apollo and Diameter participating on the debt side.
• Tech media report OpenAI has signed about $1 trillion of infrastructure contracts to secure more than 20 GW of compute, a scale far beyond its estimated ~$12 billion in annual revenue.
• OpenAI’s agreement with AMD includes warrants that could give OpenAI up to 10% of AMD at a nominal price in exchange for large multi‑generation Instinct GPU purchases around 6 GW, a structure some observers describe as a circular deal.