From Yahoo Finance: 2025-05-23 14:14:00

Oracle is set to invest around $40 billion in Nvidia’s high-performance chips for OpenAI’s new data center in Abilene, Texas. The center is part of the U.S. Stargate Project to boost America’s AI industry. The facility will house 400,000 of Nvidia’s powerful GB200 chips leased to OpenAI. JPMorgan is providing $9.6 billion in loans for the project. The data center will reduce OpenAI’s reliance on Microsoft for computing power. Oracle sees this as a chance to enhance its cloud capabilities and compete with tech giants like Microsoft, Amazon, and Google. Another Stargate project in the UAE is also in the works with Nvidia chips.



Read more at Yahoo Finance: Oracle to buy $40 billion of Nvidia chips for OpenAI’s US data center, FT reports