Oracle and Vantage are reportedly negotiating a $38 billion loan with various financial institutions to fund new data centers for OpenAI, according to The Financial Times. This funding adds to approximately $30 billion already raised by Oracle, SoftBank, and CoreWeave to bolster Microsoft-backed OpenAI’s computing infrastructure. While Oracle, Vantage, and OpenAI have yet to comment publicly, this initiative underscores the immense resources required to accommodate OpenAI’s burgeoning demand for computing power driven by the rapid growth of generative artificial intelligence. The new financing aims to support the development of a global infrastructure to keep pace with this expansion. This surge in investment coincides with a fierce global competition to enhance computing capacity. It’s noteworthy that, as Wall Street opened today, Oracle’s stock has seen a decline of over 3%. These developments signal significant trends in AI and tech investments.
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