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OpenAI Expands Stargate With Five New U.S. Campuses as Nvidia Pledges Up to $100 Billion

OpenAI is broadening Stargate to cover most infrastructure work, relying on leasing plus future debt to lock down GPUs during a compute crunch.

A screen displays the company logo for CoreWeave Inc., Nvidia-backed cloud services provider, during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. REUTERS/Brendan McDermid/File Photo

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.