AI Compute Deals

OpenAI AI compute deals

OpenAI is party to 21 deals in the ledger, the buyer in all 21. The 13 with a stated price add up to $1.6T in headline value. Stated capacity: 45.73 GW. Counterparties: SB Energy, Amazon, NVIDIA, Cerebras, Microsoft, Broadcom, AMD, Samsung Electronics, SK hynix, CoreWeave, Oracle, SoftBank, Nscale, G42, Stargate LLC.

Verified 9 Nov 2026. Sums count each row’s headline figure as stated, cancelled deals excluded. Open in the full ledger

  1. NVIDIA guarantees up to $105B of OpenAI leases at SB Energy's PORTS campus (4.25 GW)

    Buys from SB Energy

    Cap on NVIDIA's guarantee exposure (NVIDIA 10-Q), phased over nine construction phases; covers defined lease and power payments, not the full site cost, and ends if OpenAI reaches a set credit rating. NVIDIA also invests $1.5 billion in SB Energy. Capacity comes online in phases from 2028.

    $105B1 4.25 GW signed

  2. Amazon invests $50B in OpenAI; AWS deal expanded by $100B

    Buys from Amazon (AWS)

    AWS agreement expanded by $100 billion over eight years (on top of $38B). Separate Amazon equity investment of $50 billion ($15B initial + $35B conditional).

    $100B1 2 GW expanded

  3. NVIDIA invests $30B in OpenAI's $110B round

    Buys from NVIDIA

    $30 billion equity. The round was announced at $110 billion at a $730 billion valuation and later confirmed at about $122 billion. Built In ties the deal to 3 GW of inference and 2 GW of training capacity on NVIDIA Vera Rubin.

    $30B1 signed

  4. OpenAI–Cerebras 750 MW inference compute (over $10B)

    Buys from Cerebras

    ≠ "More than $20 billion" per Cerebras's IPO prospectus (May 2026); first reports (Bloomberg, Reuters, Jan 2026) said more than $10 billion. Master agreement signed Dec 2025. Tranches run three or four years each, extendable to five. OpenAI holds an option on 1.25 GW more (2 GW total) by end-2030, a warrant for up to 33.4 million Cerebras shares, and lent Cerebras about $1.0 billion.

    $20B1 0.75 GW signed

  5. OpenAI–AWS $38B seven-year compute deal

    Buys from Amazon (AWS)

    $38 billion over seven years. Expanded by $100 billion over eight years in February 2026 (see separate record).

    $38B1 expanded

  6. OpenAI–Microsoft recapitalization: $250B incremental Azure commitment

    Buys from Microsoft (Azure)

    "Incremental $250B of Azure services" per Microsoft. Term not disclosed.

    $250B1 signed

  7. OpenAI–Broadcom 10 GW custom accelerators

    Buys from Broadcom

    Financial terms not disclosed. The companies signed a term sheet, not a definitive agreement.

    n/d 10 GW announced

  8. OpenAI–AMD 6 GW GPU deal with 160M-share warrant

    Buys from AMD

    Not disclosed. AMD said it expects tens of billions of dollars in revenue. Warrant: up to 160 million AMD shares (~10% of AMD); last tranche tied to a $600 AMD share price.

    n/d 6 GW signed

  9. Samsung and SK hynix join Stargate (DRAM supply LOIs)

    Buys from Samsung Electronics; SK hynix

    Not disclosed. Letters of intent, not purchase orders. OpenAI's demand was put at up to 900,000 DRAM wafers per month.

    n/d announced

  10. OpenAI–CoreWeave expansion (up to $6.5B; $22.4B total)

    Buys from CoreWeave

    Up to $6.5 billion; cumulative OpenAI contract value approximately $22.4 billion ($11.9B + $4B + $6.5B).

    $6.5B1 expanded

  11. Stargate adds five US sites (nearly 7 GW planned)

    Buys from Oracle; SoftBank (SB Energy)

    "Over $400 billion" planned investment over the next three years across all Stargate sites; about $300 billion of that is the July 2025 Oracle agreement.

    $400B1 7 GW expanded

  12. OpenAI–NVIDIA 10 GW letter of intent (up to $100B investment)

    Buys from NVIDIA

    "Invest up to $100 billion" progressively per gigawatt deployed. Letter of intent, not a definitive agreement. In Feb 2026 NVIDIA instead committed $30 billion in OpenAI's funding round (see separate record).

    $100B1 10 GW announced

  13. Stargate UK (Nscale, OpenAI, NVIDIA)

    Buys from Nscale

    No value disclosed. An offtake OpenAI 'will explore', not a firm commitment.

    n/d announced

  14. Stargate Norway (Nscale, Aker, OpenAI) in Narvik

    Buys from Nscale

    No value disclosed. Nscale later rolled up the Aker JV, announced a Microsoft expansion at Narvik (14 Apr 2026) and raised $790 million of financing for it (11 May 2026). Nscale's 2026 releases do not name OpenAI as the Narvik offtaker.

    n/d 0.23 GW announced

  15. OpenAI–Oracle 4.5 GW Stargate capacity

    Buys from Oracle

    ≠ Not disclosed by the companies. WSJ (Sept 2025) reported $300 billion over about five years from 2027. Oracle's 30 June 2025 8-K described an unnamed contract worth more than $30 billion a year from FY28, which press reports tied to OpenAI.

    n/d 4.5 GW signed

  16. Oracle discloses cloud contract worth over $30B a year from FY2028

    Buys from Oracle · named as buyer in press reports, not in the filing

    ≠ "More than $30 billion in annual revenue starting in FY28" per Oracle's 8-K. Annual figure, not total contract value. Oracle did not name the customer; press reports tied it to OpenAI.

    $30B1 signed

  17. Stargate UAE 1 GW cluster (G42, OpenAI, Oracle, NVIDIA, Cisco, SoftBank)

    Buys from G42

    No value disclosed. 1 GW cluster within a planned 5 GW campus; G42 said in October 2025 that the first 200 MW was progressing for 2026.

    n/d 1 GW announced

  18. OpenAI–CoreWeave expansion (up to $4B)

    Buys from CoreWeave

    Up to $4.0 billion through April 2029, per CoreWeave's Q1 2025 Form 10-Q (commitment as of 14 May 2025).

    $4B1 expanded

  19. OpenAI–CoreWeave initial cloud contract (up to $11.9B)

    Buys from CoreWeave

    Up to approximately $11.9 billion through October 2030, per CoreWeave's IPO prospectus. CoreWeave also issued OpenAI $350 million of stock (8.75 million shares at the IPO price).

    $11.9B1 expanded

  20. Stargate Project launch (OpenAI, SoftBank, Oracle, MGX)

    Buys from Stargate LLC (SoftBank, OpenAI, Oracle, MGX)

    Planned investment of $500 billion over four years; $100 billion to be deployed immediately. A plan, not a contracted payment.

    $500B1 announced

  21. Microsoft extends OpenAI partnership (third investment)

    Buys from Microsoft

    Microsoft described it only as a "multiyear, multibillion dollar investment". Amount not disclosed by the companies.

    n/d expanded