The Nvidia-OpenAI plan would deliver 10 gigawatts of power – equivalent to the peak electricity demand of New York City
The companies announced the agreement on Monday, saying they had signed a letter of intent for a strategic deal.
The money would be provided in stages, with the first US$10 billion coming when the deal is signed, sources said. Nvidia is making the investment in cash and would receive OpenAI equity as part of the deal, sources added.
Further increments would follow when each gigawatt of computing power is deployed.
Investors applauded the tie-up, sending Nvidia shares up 3.9 per cent in New York trading. The stock has gained 37 per cent this year, cementing the company’s status as the most valuable business on Earth.
