Nvidia’s $100B AI Gambit: Brilliant Empire-Building or Dot-Com Déjà Vu?
The $100B Bet on OpenAI On September 22, 2025 Nvidia and OpenAI unveiled a historic infrastructure partnership. Under the agreement, OpenAI will deploy 10 gigawatts of Nvidia’s latest AI systems – roughly 4–5 million GPUs – in new data centers for training and inference nasdaq.com. Nvidia will progressively fund up to $100 billion of this build-out, providing cash injections as each gigawatt of capacity is completed reuters.com. In practice, this means Nvidia puts up the capital for OpenAI’s growth, which is then spent on Nvidia’s own chips and platforms. OpenAI’s CEO Sam Altman hailed the deal: “There’s no partner but NVIDIA that