Overview

• OpenAI and Nvidia signed a letter of intent to deploy at least 10 gigawatts of Nvidia systems for OpenAI’s next‑generation infrastructure, with Nvidia described as a preferred but not exclusive supplier.
• Reuters reported that Nvidia is set to invest up to $100 billion in OpenAI over time, and Bank of America analysts projected potential 3–5× returns that could translate to hundreds of billions in revenue tied to the capacity buildout.
• Nvidia’s capital push now includes a $5 billion investment in Intel and hundreds of millions for Wayve and U.K. cloud provider Nscale, as its portfolio expands across AI clouds, model labs and quantum startups, according to CNBC.
• OpenAI outlined roughly $850 billion in data‑center projects with Oracle, Nvidia and SoftBank, with energy needs comparable to 17 nuclear plants and initial facilities targeted to come online next year, Sam Altman told CNBC.
• Wall Street reactions feature price‑target hikes on Nvidia from Evercore and Barclays and on Alphabet from Baird, alongside Bernstein’s warning about “circular” optics; Nvidia said its OpenAI investment funds will not be used to buy its own products.