Overview

• Nvidia and OpenAI signed a letter of intent to deploy at least 10 gigawatts of Nvidia systems, with hardware deliveries expected to begin in the second half of 2026 and Nvidia positioned as a preferred, not exclusive, supplier.
• OpenAI outlined a roughly $850 billion data‑center expansion that CEO Sam Altman said would require power comparable to 17 nuclear plants, with initial facilities targeted to come online next year and further scaling through the decade.
• Moody’s shifted Oracle’s outlook to negative at Baa2 after an estimated $300 billion, 4.5‑gigawatt compute commitment to OpenAI, citing significant counterparty risk, rising leverage and the prospect of extended negative free cash flow.
• Wall Street flagged potential “circular” dynamics from Nvidia’s OpenAI stake, though the company said its funds will not be used to buy its own products; Bank of America projected the investment could yield 3–5× returns over time.
• Alibaba said it will lift AI spending beyond a previously planned $53 billion over three years, introduced its multimodal Qwen3‑Omni model, struck a software deal with Nvidia, and detailed new cloud regions in Brazil, France and the Netherlands.