Overview

• Nvidia and OpenAI signed a letter of intent for a strategic partnership that designates Nvidia a preferred supplier, with funding deployed progressively as data‑center capacity comes online and final terms expected in the coming weeks.
• The first phase of systems is targeted to launch in the second half of 2026 on Nvidia’s next‑generation Vera Rubin platform.
• According to a person close to OpenAI, the arrangement is expected to combine cash purchases of Nvidia hardware with a non‑controlling equity investment by Nvidia, with an initial $10 billion tied to a definitive chip‑purchase agreement.
• Nvidia CEO Jensen Huang said the planned 10 gigawatts equates to roughly 4 million to 5 million GPUs, underscoring a build on the scale of the company’s annual shipments.
• Analysts said the scale could draw antitrust scrutiny, while Nvidia shares rose about 3%–4% and Oracle gained nearly 5%, and both firms said the partnership complements ongoing work with Microsoft, Oracle, SoftBank and the Stargate initiative.