OpenAI builds a $1 trillion web of deals — the biggest AI gamble in history

OpenAI has embarked on an unprecedented financial expansion, structuring over $1 trillion worth of deals with major tech corporations to secure the computing power needed for its AI ambitions. Under Sam Altman’s leadership, the company is binding together industry giants like Nvidia, AMD, and Oracle into a web of shared financial dependence.

Source Financial Times

Recently, OpenAI struck a deal with AMD that could demand power equivalent to six Hoover Dams, alongside a $100 billion equity arrangement with Nvidia tied to chip orders. Such high-leverage partnerships are reshaping the AI sector but also creating systemic financial risks that resemble the dot-com bubble era.

Analysts warn that the massive scale of borrowing and cross-investment could backfire if AI growth slows. While demand for computing power remains strong, OpenAI’s trillion-dollar ecosystem may test the limits of financial stability in the tech world.