OpenAI Partners Face $96 Billion Debt, Raising Concerns Over the Financial Stability of the Loss-Making AI Firm

A Financial Times analysis reveals that companies supplying OpenAI with data centers, chips, and processing power have accrued approximately $96 billion in debt. This underscores the AI sector’s growing dependence on debt financing, particularly as OpenAI—projected to earn around $20 billion this year—anticipates $1.4 trillion in future energy and computing commitments. Notably, major players like SoftBank, Oracle, and CoreWeave have contributed to the mounting debt, with CoreWeave itself reporting $3.7 billion in current debt and a projected $5 billion in revenue this year. The trend marks a shift from traditional cash funding by tech giants like Amazon and Microsoft. According to Bank of America, the five largest hyperscalers have incurred $121 billion in new debt this year, dramatically influencing credit markets as investors hedge against rising risks. The increasing reliance on corporate debt raises questions about long-term stability in the AI industry.

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