Who has promised money to whom in AI

Loops

OpenAI is one of the 11 companies in the data that are part of a loop. A loop is a route along the links that returns to the company where it started.

OpenAI and Amazon have each promised money to the other.

OpenAI and Microsoft have each promised money to the other.

Deals that FT lists for OpenAI

FT published the amount, the date and the type of every deal that it lists for OpenAI.

• OpenAI → Oracle $300bn

  22 July 2025. Cloud/compute purchase commitment.

  OpenAI and Oracle announced an agreement to develop up to 4.5GW of additional Stargate data center capacity; OpenAI later stated that the Oracle partnership exceeds $300B over the next five years.

  Note in FT's data: Classified as reported/conditional because it is a forward five-year capacity/compute commitment and overlaps with the broader Stargate infrastructure plan rather than a closed equity or debt financing.

• OpenAI → Microsoft Azure $250bn

  28 October 2025. Cloud/compute purchase commitment.

  Microsoft said OpenAI contracted for an incremental $250B of Azure services, while Microsoft no longer retained a right of first refusal as compute provider.

  Note in FT's data: Commercial commitment, not equity funding.

  Note from the site: FT's deal list says "Microsoft Azure", and FT's list of links records the same deal under "Microsoft".

• Amazon, NVIDIA, SoftBank → OpenAI $110bn

  27 February 2026. Equity investment.

  OpenAI announced $110B of new investment at a $730B pre-money valuation, composed of Amazon, NVIDIA and SoftBank commitments.

  Note in FT's data: Total row; component rows should not be summed separately.

• NVIDIA → OpenAI $100bn

  22 September 2025. Equity investment.

  NVIDIA and OpenAI announced an LOI for at least 10GW of NVIDIA systems, with NVIDIA intending to invest up to $100B progressively as capacity is deployed.

  Note in FT's data: Tracked because it shaped market narratives; later official 2026 rows capture replacement/closed investment amounts.

• OpenAI → Amazon Web Services $100bn

  27 February 2026. Cloud/compute purchase commitment.

  OpenAI and Amazon announced an expanded infrastructure partnership adding $100B over eight years to an existing $38B agreement, including OpenAI consumption of 2GW of Trainium capacity.

  Note in FT's data: Commercial cloud commitment; may overlap with Amazon investment economics.

  Note from the site: FT's deal list says "Amazon Web Services", and FT's list of links records the same deal under "Amazon".

• SoftBank-led syndicate → OpenAI $40bn

  31 March 2025. Equity investment.

  OpenAI announced a $40B financing round at a $300B post-money valuation, with SoftBank as lead investor.

  Note in FT's data: Later 2026 investment announcements may supersede or expand this capital base.

• OpenAI → Georgia Power / Project Camellia $20bn

  22 July 2026. Power contract / data-center investment.

  OpenAI is designing and developing Project Camellia in Effingham County, Georgia, and contracting with Georgia Power for 3.2GW delivered in phases between 2028 and 2032.

  Note in FT's data: Value is secondary/reported; do not sum with closed equity/debt.

• OpenAI → CoreWeave $11.9bn

  10 March 2025. Cloud/compute purchase commitment.

  CoreWeave announced an agreement with OpenAI to deliver AI infrastructure worth up to $11.9B.

  Note in FT's data: Commercial commitment, not equity funding.

• Microsoft → OpenAI $10bn

  23 January 2023. Equity investment.

  Microsoft announced a multiyear, multibillion-dollar extension of its OpenAI partnership; reporting put the amount at about $10B with profit/economic rights.

  Note in FT's data: Outside strict three-year window but retained as an anchor because it underpins current Microsoft/OpenAI economics.

• OpenAI → Cerebras $10bn

  14 January 2026. Cloud/compute purchase commitment.

  OpenAI and Cerebras announced a multi-year agreement for 750MW of ultra-low-latency AI compute, with press reporting the deal at more than $10B.

  Note in FT's data: Value is reported, not official; entered as conservative $10B floor for database filtering.

• Syndicate incl. Microsoft, NVIDIA, SoftBank, Thrive → OpenAI $6.6bn

  2 October 2024. Equity investment.

  OpenAI raised $6.6B at a reported $157B valuation, with strategic participation from Microsoft, NVIDIA and SoftBank.

  Note in FT's data: Component rows below should not be summed with this round total.

• Bank syndicate → OpenAI $4.7bn

  31 March 2026. Credit facility.

  OpenAI said it expanded its revolving credit facility to about $4.7B undrawn capacity.

  Note in FT's data: Debt capacity, not equity; bank participants not itemized in this V1.

• OpenAI → NEXTDC $4.6bn

  5 December 2025. MOU / future offtake and data center capacity.

  OpenAI and NEXTDC announced an MOU for a next-generation hyperscale AI campus and large-scale GPU supercluster at NEXTDC S7 in Eastern Creek, Sydney.

  Note in FT's data: Official NEXTDC release does not fully disclose dollar value; project value from government/media reporting.

• OpenAI and 19 founding investment / consulting partners → OpenAI Deployment Company $4bn

  11 May 2026. Joint venture / strategic funding.

  OpenAI launched the OpenAI Deployment Company with a partner group led by TPG and co-led by Advent, Bain Capital and Brookfield, alongside other investors and consultancies.

  Note in FT's data: Added as V3 catch-up because it creates a model/app deployment layer linked to OpenAI and major financial sponsors.

  Note from the site: FT's deal list says "OpenAI Deployment Company", and FT's list of links records the same deal under "OpenAI".

• OpenAI → CoreWeave $350m

  10 March 2025. Equity investment.

  OpenAI became an investor in CoreWeave through $350M of CoreWeave stock alongside the AI infrastructure agreement.

  Note in FT's data: Linkage between customer and supplier is explicitly captured via related deal ID.

• OpenAI → Stargate Project investor group amount not disclosed

  21 January 2025. Data center JV / lease / financing.

  The Stargate Project announced a plan to invest $500B over four years in US AI infrastructure, with $100B to begin immediately.

• Samsung Electronics; Samsung SDS; Samsung C&T; Samsung Heavy Industries → OpenAI / Stargate amount not disclosed

  1 October 2025. Strategic commercial partnership / future supply and data center LOI.

  Samsung affiliates agreed to support OpenAI Stargate through memory supply, AI data center design/development/operation, OpenAI services resale in Korea and floating data center exploration.

  Note in FT's data: No contract value, pricing, term or binding purchase volumes disclosed.

  Note from the site: FT's deal list says "OpenAI / Stargate", and FT's list of links records the same deal under "OpenAI".

• SK hynix → OpenAI / Stargate amount not disclosed

  1 October 2025. Future supply agreement / LOI.

  SK hynix signed an LOI with OpenAI to supply HBM for Stargate and said it would establish capacity to meet OpenAI demand.

  Note in FT's data: No binding value, price, term or exact HBM volumes disclosed.

  Note from the site: FT's deal list says "OpenAI / Stargate", and FT's list of links records the same deal under "OpenAI".

• SK Telecom → OpenAI amount not disclosed

  1 October 2025. Data center MOU / development partnership.

  SK Telecom signed an MOU with OpenAI to explore building an AI data center in Korea, branded Stargate Korea.

  Note in FT's data: No investment value or binding capacity disclosed.

• AMD → OpenAI amount not disclosed

  6 October 2025. Chip supply / warrant.

  AMD and OpenAI announced a strategic partnership for up to 6GW of AMD Instinct GPUs; AMD issued OpenAI warrants for up to 160M AMD common shares tied to deployment and share-price milestones.

  Note in FT's data: No numeric value entered because supply value and warrant fair value were not disclosed in the release.

• OpenAI → Broadcom amount not disclosed

  13 October 2025. Chip supply / custom accelerator partnership.

  OpenAI and Broadcom announced a collaboration to deploy 10GW of custom AI accelerators, with racks planned from H2 2026 through 2029.

  Note in FT's data: Commercial pricing, warrants and equity components were not disclosed; do not treat this as a warrant/equity row without further evidence.

• OpenAI Deployment Company → Tomoro amount not disclosed

  11 May 2026. M&A / acquihire / license.

  OpenAI agreed to acquire Tomoro, an applied AI consulting and engineering firm, to seed the OpenAI Deployment Company with roughly 150 FDEs and deployment specialists.

  Note in FT's data: No consideration disclosed.

  Note from the site: FT's deal list says "OpenAI Deployment Company", and FT's list of links records the same deal under "OpenAI".

• AI XPV Platform / Anthropic / frontier AI labs → OpenAI amount not disclosed

  9 June 2026. Private-credit infrastructure platform / future compute financing.

  Broadcom, Apollo and Blackstone established the AI XPV Platform to finance AI deployments using Broadcom XPUs/networking for frontier AI labs including Anthropic and OpenAI.

• OpenAI Deployment Company → Northslope amount not disclosed

  8 July 2026. M&A / acquihire / license.

  The OpenAI Deployment Company agreed to acquire Northslope, an applied AI company focused on enterprise AI deployment.

  Note in FT's data: No consideration disclosed.

  Note from the site: FT's deal list says "OpenAI Deployment Company", and FT's list of links records the same deal under "OpenAI".

Related deals between other companies, which FT lists under OpenAI

• Stargate Project investor group → Stargate Project $500bn

  21 January 2025. Data center JV / lease / financing.

  The Stargate Project announced a plan to invest $500B over four years in US AI infrastructure, with $100B to begin immediately.

  Note in FT's data: Classified as conditional because it is a multi-year investment plan rather than a single closed financing.

• Broadcom; Apollo; Blackstone → AI XPV Platform / Anthropic / frontier AI labs $35bn

  9 June 2026. Private-credit infrastructure platform / future compute financing.

  Broadcom, Apollo and Blackstone established the AI XPV Platform to finance AI deployments using Broadcom XPUs/networking for frontier AI labs including Anthropic and OpenAI.

  Note in FT's data: Platform-level financing; exact borrower, lease and lab-specific economics not fully disclosed.

  Note from the site: FT's deal list has the deal twice, under OpenAI and under Anthropic, and it is one deal.

• Crusoe, Blue Owl Capital, Primary Digital Infrastructure → OpenAI Stargate Abilene campus $11.6bn

  21 May 2025. Data center JV / lease / financing.

  Crusoe secured $11.6B of debt and equity financing for the OpenAI Stargate Abilene 1.2GW campus, described as the second phase of a $15B JV.

  Note in FT's data: Infrastructure financing may overlap with broader Stargate planned spend.

• OpenAI / SB Energy → SB Energy / OpenAI $6bn

  31 August 2026. Equity investment / warrants / reciprocal services.

  WSJ reported SB Energy offered OpenAI warrants valued around $5.5B to secure the lease, OpenAI invested $500M in SB Energy, and SB Energy committed to buy OpenAI services through 2028.

  Note in FT's data: Reported-only and partly based on sources familiar; keep as conditional/watchlist-style row until filing detail confirms.

• Nscale and Aker; OpenAI initial offtaker → Stargate Norway JV $1bn

  31 July 2025. Data center JV / compute offtake.

  OpenAI, Nscale and Aker announced Stargate Norway, OpenAI's first AI data-center initiative in Europe under OpenAI for Countries.

  Note in FT's data: Prior-period catch-up; value refers to initial phase funding, not total 230MW/520MW project cost.

• Microsoft, OpenAI Startup Fund, NVIDIA, Intel Capital and others → Figure AI $675m

  29 February 2024. Equity investment.

  Figure AI raised $675M at a $2.6B valuation from investors including Microsoft, OpenAI Startup Fund, NVIDIA and Intel Capital; it also announced OpenAI and Azure collaboration.

  Note in FT's data: OpenAI Startup Fund is a related but distinct investment vehicle.

• SoftBank → Stargate Project investor group amount not disclosed

  21 January 2025. Data center JV / lease / financing.

  The Stargate Project announced a plan to invest $500B over four years in US AI infrastructure, with $100B to begin immediately.

• Oracle → Stargate Project investor group amount not disclosed

  21 January 2025. Data center JV / lease / financing.

  The Stargate Project announced a plan to invest $500B over four years in US AI infrastructure, with $100B to begin immediately.

• MGX → Stargate Project investor group amount not disclosed

  21 January 2025. Data center JV / lease / financing.

  The Stargate Project announced a plan to invest $500B over four years in US AI infrastructure, with $100B to begin immediately.

• Amazon → Amazon, NVIDIA, SoftBank amount not disclosed

  27 February 2026. Equity investment.

  OpenAI announced $110B of new investment at a $730B pre-money valuation, composed of Amazon, NVIDIA and SoftBank commitments.

  Note in FT's data: Total row; component rows should not be summed separately.

• NVIDIA → Amazon, NVIDIA, SoftBank amount not disclosed

  27 February 2026. Equity investment.

  OpenAI announced $110B of new investment at a $730B pre-money valuation, composed of Amazon, NVIDIA and SoftBank commitments.

  Note in FT's data: Total row; component rows should not be summed separately.

• SoftBank → Amazon, NVIDIA, SoftBank amount not disclosed

  27 February 2026. Equity investment.

  OpenAI announced $110B of new investment at a $730B pre-money valuation, composed of Amazon, NVIDIA and SoftBank commitments.

  Note in FT's data: Total row; component rows should not be summed separately.

• OpenAI affiliate → SB Energy / PORTS-Pike Technology Campus amount not disclosed

  17 August 2026. Data center lease / future sales agreement.

  NVIDIA SEC filing says SB Energy will build, own and operate the PORTS-Pike data center under a 20-year lease to OpenAI. NVIDIA secured initial 4.25 IT-GW land/power/shell capacity with an option for the remaining 3.75 IT-GW; OpenAI is the customer for 8 IT-GW.

  Note in FT's data: Lease value not disclosed. The 4.25 IT-GW figure is the initial secured/guaranteed tranche, not the full OpenAI customer campus scope of 8 IT-GW.