Shares of CoreWeave and Nebius climbed on reports that Nvidia is in financing talks with OpenAI, according to Investing.com. Both companies rent out AI computing power, so news that the industry's biggest chipmaker may be backstopping its biggest customer read as good news for anyone selling access to Nvidia hardware.
The reported terms are enormous. Bitcoin Foundation reported Nvidia is in talks to provide a guarantee of up to $250 billion to OpenAI to support what would be the largest AI data center build yet. Separately, 24/7 Wall St. described a rumored Nvidia-OpenAI arrangement worth as much as $600 billion, and argued it could reignite what it called Nvidia's biggest AI controversy — the concern that Nvidia is helping fund the customers who then buy its chips.
The OpenAI talks aren't the only deal in motion. Data Center Dynamics reported that Nvidia and South Korea's SK Group announced a $500 billion AI agreement that includes 2 gigawatts of data center capacity. Northeast Times framed the run of announcements as Nvidia's "$500 billion week," and Yahoo Finance Singapore said the company had "locked down" a deal that changes the AI race.
Not everyone is convinced the stock reflects it. Barron's noted that even with the OpenAI and SK Hynix deals in view, Nvidia still looks like a laggard among chip stocks.
For readers, the through-line is simple: the money financing the AI boom is increasingly circular, with Nvidia supporting the buyers of its own products, and investors are now pricing that arrangement into companies well beyond Nvidia itself.