Overview

• Jensen Huang confirmed Nvidia invested $2 billion in Elon Musk’s xAI, part of a $20 billion equity and debt raise structured through an SPV that buys Nvidia GPUs for the Colossus 2 data center and leases them back over five years.
• Huang said Nvidia has entered a first‑time direct purchasing relationship with OpenAI and reiterated plans to invest up to $100 billion to support roughly 10 GW of systems, noting OpenAI will still need to fund the build through revenue plus equity or debt.
• Reports say OpenAI has signed around $1 trillion of infrastructure agreements to secure more than 20 GW of compute, including an AMD deal involving warrants for up to 10% of AMD’s equity and about 6 GW of AMD GPUs, alongside large Oracle capacity commitments.
• Internal figures reported by The Information show Oracle generated about $900 million from renting Nvidia‑powered servers with only about $125 million in gross profit in the latest quarter, and its shares fell on worries over cloud margins.
• Dell raised its long‑term revenue and EPS growth outlook and highlighted strong AI server demand from customers like CoreWeave and xAI, while warning that energy availability is a near‑term constraint, with 10 GW projects representing roughly 16% of the U.S. grid’s expected 2025 additions.