Overview

• OpenAI, Oracle and SoftBank announced five additional U.S. data center sites that lift planned capacity to more than 7 gigawatts over the next three years.
• Nvidia signed a staged letter of intent to invest up to $100 billion, with an initial $10 billion expected soon and most of the money directed to leasing Nvidia GPUs.
• The Abilene, Texas flagship has Oracle‑delivered Nvidia hardware in place, with training and ChatGPT inference underway and a 600‑megawatt expansion planned.
• Executives said Stargate now encompasses earlier and self‑built data center efforts, with plans to tap debt markets alongside partner equity and leases to fund future builds.
• Market watchers warn of circular financing and bubble risk as supplier investments, leases and chip spending flow between OpenAI, Oracle, SoftBank and Nvidia.