Recent analysis by The Financial Times reveals that companies partnered with OpenAI have collectively borrowed around $96 billion to finance data centers and processing power. Major players like SoftBank, Oracle, and CoreWeave have contributed approximately $30 billion as part of a debt-fueled investment strategy in the loss-making startup, which benefits without taking on financial burdens itself. Despite a burgeoning AI industry, the revenues generated do not yet cover the significant build-out costs. OpenAI has commitments exceeding $1.4 trillion for energy and computing resources over the next eight years, starkly overshadowing its projected $20 billion annual revenue. The breakdown shows firms like Blue Owl Capital and Crusoe adding to this debt trajectory, further increasing scrutiny as total loans approach the $100 billion mark. This shift towards debt financing marks a new era for AI infrastructure, previously funded predominantly by tech giants like Microsoft and Amazon, as demand for computing power surges.
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