OpenAI Raises Projected Compute Spending To $750 Billion On New Georgia Data Center
OpenAI raised its projected spending on computing power to about $750 billion through 2030, up from roughly $600 billion earlier this year, as the artificial-intelligence company secures additional cloud and data-center capacity.
The company announced a $20 billion initial investment in a new facility in Effingham County, Georgia, securing 3.2 gigawatts of power from Georgia Power for delivery between 2028 and 2032. The site marks the first project where OpenAI will serve as the lead designer and developer, shifting away from its previous model of renting computing chips from cloud providers such as Oracle and Amazon Web Services. The startup is currently seeking partners to help finance and construct the complex, with several hundred megawatts expected to come online beginning in 2028.
From the sources (25 posts)
@vestexchange$ORCL is down about 3,5% in today's session, trading near its 52-week low, with enterprise software names broadly under pressure. An S&P Global downgrade to BBB- keeps scrutiny on the debt-funded AI expansion, with $95B in planned capex, a
@globalmktobserv⚠️Oracle's credit risk has never been higher: Oracle's 5-year credit default swaps rose ~10bps to 198.23bps on Friday, the highest closing level on record, surpassing the previous peak of ~197.8bps reached during the 2008 FINANCIAL CRISIS:
@stockmktnewzOracle $ORCL stock hit new 52 WEEK LOWS again today 🔴
@globalmktobservRT @GlobalMktObserv: ⚠️Oracle's credit risk has never been higher: Oracle's 5-year credit default swaps rose ~10bps to 198.23bps on Friday…
@businessThe cost of protecting Oracle’s debt against default hit a multi-year high Monday while its bonds sold off, as doubts grew over whether its massive AI investments will pay off
@theinformationOracle’s effort to build a massive AI data center for OpenAI is becoming far more expensive than planned as permitting fights, power changes and new regulatory demands pile up. The project shows how AI infrastructure costs keep climbing l
@financialjuiceOpenAI plans to spend more than $30b on new data center.
@financialjuiceOpenAI's new 3.2 gigawatt project set near Savannah, Georgia.
@firstsquawkOPENAI PLANS TO SPEND $750 BILLION ON CLOUD SERVICES DUE TO INCREASING COMPUTING NEEDS.
@matthew_sigel*OPENAI RAISES PROJECTED CLOUD SPENDING TO $750B: WSJ Previous $600B.
@negligible_cap*OPENAI RAISES PROJECTED CLOUD SPENDING TO $750B: WSJ OpenAI raising projected cloud spending from $600B to $750B through 2030. Seems reasonable.
@stockmktnewzOPENAI JUST RAISED ITS OWN COMPUTE SPENDING PROJECTION TO $750 BILLION. OpenAI's projected spending on computing power through 2030 is now ~$750B, up from ~$600B projected earlier this year OpenAI is investing $20 billion to kick off Proj
@anissagardizy8NEW: Lot's of scoop-y details in my latest story for @WSJ - OAI raised its projected spending on compute to ~ $750B through 2030 - OAI is planning a 3.2 GW data center in Georgia - Sam Altman hired Brent Mayo, one of the architects of E
@wallstengineThe WSJ reports that OpenAI now projects about $750B in compute spending through 2030, up from roughly $600B earlier this year, as it locks in more cloud and data-center capacity. OpenAI also announced a $20B initial investment in Project
@firstadopterWSJ: "OpenAI is scaling up its data-center ambitions—and its budget for spending on them. The artificial-intelligence company has raised its projected spending on computing power to around $750 billion through 2030, up from a projection of
@stocksavvyshayOpenAI raises its projected compute spending through 2030 to ~$750B from $600B earlier this year. It is also investing $20B in a 3.2 GW Georgia data center which will be its first major site designed and developed in-house rather than leas
@bluesteinBreaking: Tech giant OpenAI plans to build $20 billion data center near Georgia coast #gapol
@zephyr_z9BRUH $750B is a lot. Although considering how their revenue is growing, they might be able to find it
@firstadopter👀 WSJ: OpenAI "said Wednesday it would invest $20 billion to kick off a data center called Project Camellia, in Effingham County, Ga. Sachin Katti, OpenAI’s vice president of compute strategy, said the company has contracted with utility G
@axiosOpenAI announces $20 billion Georgia data center project
@firstadopterRuh-roh for certain companies "The project represents the first site in which OpenAI is the lead designer and developer. At its other sites, OpenAI rents chips from cloud providers such as Oracle and Amazon Web Services."
@techmemeSource: OpenAI raised its projected cloud spending to ~$750B through 2030, up from a projection of ~$600B earlier this year, reflecting new cloud agreements (@anissagardizy8 / Wall Street Journal) (Visit Techmeme dot com for the link and f
@techmemeOpenAI plans to spend $30B+ on a massive new data center in Georgia, securing 3.2GW of total energy; several hundred MW are set to come online starting in 2028 (@dinabass / Bloomberg) (Visit Techmeme dot com for the link and full context!)
@wsjExclusive: OpenAI is scaling up its data-center ambitions—and its budget for spending on them
@anissagardizy8RT @anissagardizy8: NEW: Lot's of scoop-y details in my latest story for @WSJ - OAI raised its projected spending on compute to ~ $750B t…