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Sam Altman, CEO of OpenAI (L), and Jensen Huang CEO of Nvidia.

Reuters

ABILENE, Texas – Sam Altman had a deadline. OpenAI’s CEO was headed to Texas to unveil his company’s next big infrastructure push, and Nvidia CEO Jensen Huang wanted in on the action.

Through a series of hurried negotiations, late-night calls and last-minute contract tweaks, the two giants of artificial intelligence struck a $100 billion partnership on Monday, hours before Altman boarded his flight to Abilene, a city of about 130,000 residents roughly 180 miles west of Dallas.

It helped that Huang and Altman had been part of President Donald Trump’s state visit to the U.K. a week earlier, allowing the president to be briefed on the agreement days in advance. 

The deal, which Huang described to CNBC as “monumental in size,” marks a watershed moment in the tech industry, as capital and influence are increasingly concentrated in the hands of the two companies closest to the heart of the artificial intelligence boom.

Huang now presides over the world’s most valuable public company, worth nearly $4.5 trillion after gaining $170 billion following Monday’s announcement, while Altman runs the most prominent startup on the planet, valued at half a trillion dollars.

OpenAI’s ascent to the forefront of generative AI has relied on Nvidia’s high-powered graphics processing units (GPUs). Now the companies are more intimately linked than ever, as they plan to carve a path to jointly building the next wave of AI supercomputing facilities.

“You should expect a lot from us in the coming months,” Altman told CNBC’s Jon Fortt in an interview at Nvidia’s Silicon Valley headquarters on Monday. “There are three things that OpenAI has to do well: we have to do great AI research, we have to make these products people want to use, and we have to figure out how to do this unprecedented infrastructure challenge.”

Altman and Huang negotiated their pact largely through a mix of virtual discussions and one-on-one meetings in London, San Francisco, and Washington, D.C., with no bankers involved, according to people close to the talks who declined to be named because they weren’t authorized to speak publicly on the matter.

The arrangement calls for Nvidia to invest $10 billion at a time in OpenAI, the company behind ChatGPT. As the buildout unfolds, Nvidia will also supply the cutting-edge processors powering a host of new data centers.

While OpenAI gets more intimate with Nvidia, it has to maneuver through a number of high-stakes relationships with other key partners.

OpenAI only informed Microsoft, its principal shareholder and primary cloud provider, a day before the deal was signed, the people familiar with the matter said. Earlier this year, Microsoft lost its status as OpenAI’s exclusive provider of computing capacity.

The pact also comes less than two weeks after a disclosure from Oracle indicated that OpenAI agreed to spend $300 billion in computing power with the company over about five years, starting in 2027. At the start of the year, OpenAI joined Stargate, a multibillion-dollar project announced by President Trump and backed by Oracle and SoftBank, to build out next-generation AI infrastructure.

Going forward, all of OpenAI’s infrastructure projects will fall under the Stargate umbrella.

Representatives from Microsoft, Oracle and SoftBank didn’t immediately respond to requests for comment.

Nvidia and OpenAI provided scant details about where and when the buildout will take place, other than to say that the first of the 10 gigawatt sites will go online in the back half of next year.

Executives said they’ve reviewed between 700 and 800 potential locations since unveiling Stargate in January. In the months that followed, they fielded a flood of proposals from developers across North America offering land, power, and facilities. That list has been narrowed as OpenAI weighs energy availability, permitting timelines, and financing terms, the company said.

In Monday’s announcement, OpenAI described Nvidia as a “preferred” partner. But executives told CNBC that it’s not an exclusive relationship, and the company is continuing to work with large cloud companies and other chipmakers to avoid being locked in to a single vendor.

OpenAI CEO Sam Altman and Nvidia CEO, Jensen Huang arrive to attend the State Banquet during U.S. President Donald Trump’s state visit, at Windsor Castle, in Windsor, Britain, September 17, 2025.

Phil Noble | Reuters

For Nvidia, the investment in OpenAI is historic in size, but it’s just a big piece of a rapidly expanding portfolio.

Last week, Nvidia put $5 billion into Intel as part of a joint venture to co-develop data center and PC chips with the troubled chipmaker. Nvidia also said it invested close to $700 million in U.K. data center startup Nscale, a move that resembles Nvidia’s backing of U.S. AI infrastructure provider CoreWeave, which held its IPO in March.

Tranches of money

The financing structure for the OpenAI deal is designed to avoid hefty dilution. The initial $10 billion tranche is locked in at a $500 billion valuation and expected to close within a month or so once the transaction has been finalized, people familiar with the matter said. Nine successive $10 billion rounds are planned, each to be priced at the company’s then-current valuation as new capacity comes online, they said.

The relationship between Nvidia and OpenAI long predates the launch of ChatGPT in 2022.

Back when OpenAI was still a small nonprofit research lab and Nvidia was best known for building graphics chips for video games, Huang personally delivered his company’s first DGX supercomputer to OpenAI’s office in 2016. At the time, the startup was located in San Francisco’s Mission District, in a building that’s now home to Elon Musk’s xAI.

Almost a decade and trillions of dollars in value later, Huang and Altman are perhaps the most significant power players in the tech industry.

In October of last year, Nvidia formalized its financial stake in OpenAI, joining a $6.6 billion funding round that valued the company at $157 billion. A month later, in Tokyo, OpenAI executives met with SoftBank CEO Masayoshi Son to brainstorm what to call their next phase of expansion. Out of that session came “Stargate,” a codename that has since become shorthand for OpenAI’s most ambitious buildout plans.

Stargate now encompasses every major deal for compute capacity, including this week’s partnership with Nvidia. Securing the rights to the name required some careful maneuvering, but OpenAI has embraced it as the banner for its long-term infrastructure strategy.

OpenAI CFO Sarah Friar: Biggest issue we face is being 'constantly under compute'

The $100 billion commitment from Nvidia represents only part of what’s required for the planned 10-gigawatt buildout. OpenAI will lease Nvidia’s chips for deployment, but financing the broader effort will require other avenues. Executives have called equity the most expensive way to fund data centers, and they say the startup is preparing to take on debt to cover the remainder of the expansion. 

As OpenAI’s compute necessities increase, a big question is where the company will host its workloads, which have to date been largely housed in Microsoft Azure. Taking the work in-house would push OpenAI closer to operating as a first-party cloud provider, a market led by Amazon Web Services, followed by Azure, Google and Oracle.

Executives have openly floated the idea, suggesting it may not be far off. Some even indicated to CNBC that a commercial cloud offering could emerge within a year or two, once OpenAI has secured enough compute to cover its own needs. For now, demand for training frontier models leaves little capacity to spare, but OpenAI isn’t done looking for new opportunities.

As Altman and Huang hammered out details of the arrangement that was announced this week, OpenAI’s infrastructure team was in Tokyo meeting with SoftBank’s Son to discuss broader financing and manufacturing support.

The parallel talks underscored the scale of Altman’s ambition, and the web of global players now involved in bringing it to life.

WATCH: OpenAI restructuring clears hurdle

OpenAI restructuring clears hurdle

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Daimler CEO just dropped some pretty WILD pro-hydrogen claims [update]

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Daimler CEO just dropped some pretty WILD pro-hydrogen claims [update]

Daimler Truck AG CEO Karin Rådström hopped on LinkedIn today and dropped some absolutely wild pro-hydrogen talking points, using words like “emotional” and “inspiring” while making some pretty heady claims about the viability and economics of hydrogen. The rant is doubly embarrassing for another reason: the company’s hydrogen trucks are more than 100 million miles behind Volvo’s electric semis.

UPDATE 22NOV2025: Daimler just delivered five new hydrogen semis for trials.

While it might be hard to imagine why a company as seemingly smart as Daimler Truck AG continues to invest in hydrogen when study after study has shut down its viability as a transport fuel, it makes sense when you consider that the Kuwait Investment Authority (KIA) holds approximately 5% of Daimler and parent company Mercedes’ shares.

That’s not a trivial stake. Indeed, 5% is enough to make KIA one of the few actors with both the access and the motivation to shape conversations about Daimler’s long-term technology bets, and as a major oil-producing country whose economy would undoubtedly take a hit if oil demand plummeted, any future fuel that’s measured molecules instead of electrons isn’t just a concept for the Kuwaiti economy: it’s a lifeline.

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What’s more, Kuwait’s “Oil Strategy 2040” includes plans to nearly double crude oil production and invest billions of dollars in new oil extraction projects and downstream refining facilities, even as the rest of the world rushes to decarbonize.

In that context, the push to make hydrogen seem like an attractive decarbonization option makes more sense. So, instead of giving Daimler’s hydrogen propaganda team yet another platform to try and convince people that hydrogen might make for a viable transport fuel eventually by giving five Mercedes-Benz GenH2 semi trucks to its customers at Hornbach, Reber Logistik, Teva Germany with its brand ratiopharm, Rhenus, and DHL Supply Chain, I’m just going to re-post Daimler CEO Karin Rådström’s comments from Hydrogen Week.

You let me know if they sound any more credible now that there are five (5!) whole trucks on the road.


Earlier this month, Daimler Truck AG issued a press release entitled, “Five and a Half Times Around the World: Daimler Truck Fuel Cell Trucks Successfully Complete More Than 225,000 km (~139,000 miles) in Real-World Customer Operations.” Don’t bother looking for it on Electrek, though. I didn’t run it. And I didn’t run it because, frankly, a fleet of over-the-road semi trucks managing to cover a little over half the number of miles that David Blenkle put on his single Ford Mustang Mach-E isn’t particularly impressive.

In the meantime, Daimler competitors like Volvo, Renault, and even tiny Motiv are racking up millions and millions of all-electric miles and MAN Truck CEO Alexander Vlaskamp is saying that it’s impossible for hydrogen to compete with batteries. Heck, even Daimler’s own eActros BEV semi trucks are putting up better numbers than those hydrogen deals.

So, why then is Rådström pouring on the hydrogen love over at LinkedIn?

For some reason – posts about hydrogen always stir up emotions. I think hydrogen (not “instead of” but “in parallel to” electric) plays a role in the decarbonization of heavy duty transport in Europe for three reasons:

  1. If we would go “electric only” we need to get the electric grid to a level where we can build enough charging stations for the 6 million trucks in Europe. It will take many years and be incredibly expensive. A hydrogen infrastructure in parallel will be less expensive and you don’t need a grid connection to build it, putting 2000 H2 stations in Europe is relatively easy.
  2. Europe will rely on import of energy, and it could be transported into Europe from North Africa and Middle East as liquid hydrogen. Better to use that directly as fuel than to make electricity out of it.
  3. Some use cases of our customers are better suited for fuel cells than electric trucks – the fuel cell truck will allow higher payload and longer ranges.

At European Hydrogen Week, I saw firsthand the energy and ambition behind Europe’s net-zero goals. It’s inspiring—but also a wake-up call. We’re not moving fast enough.

What we need:

  • Large-scale hydrogen production and transport to Europe
  • A robust refueling network that goes beyond AFIR
  • And real political support to make it happen – we need smart, efficient regulation that clears the path instead of adding hurdles.

To show what’s possible, we brought our Mercedes-Benz GenH2 to Brussels. From the end of 2026, we’ll deploy a small series of 100 fuel cell trucks to customers.

Let’s build the infrastructure, the momentum, and the partnerships to make zero-emission transport a reality. 🚛 and let’s try to avoid some of the mistakes that we see now while scaling up electric. And let’s stop the debate about “either or”. We need both.

KARIN RÅDSTRÖM

Commenters were quick to point out that Daimler recently received €226M in grants from German federal and state governments to build 100 fuel cell trucks – but, while Daimler for sure doesn’t want to give back the money, it’s also pretty difficult to believe that Rådström’s pro-hydrogen posturing is sincere.

Especially since most of it seems like nonsense.

We’re not doing any of that


Daimler CEO at European Hydrogen Week; via LinkedIn.

At the risk of sounding “emotional,” Rådström’s claims that building a hydrogen infrastructure in parallel will be less expensive than building an electrical infrastructure, and that “you don’t need a grid connection to build it,” are objectively false.

Further, if her claim that “putting 2,000 H2 stations in Europe is relatively easy” isn’t outright laughable, it’s worth noting that Europe had just 265 hydrogen filling stations in operation in 2024 (and only 40% of those, or about 100, were capable of serving HD trucks). At the same time, the IEA reported that there are nearly five million public charging ports already in service on the continent.

Next, the claim that, “Europe will rely on import of energy, and it could be transported into Europe from North Africa and Middle East as liquid hydrogen” (emphasis mine), is similarly dubious – especially when faced with the fact that, in 2023, wind and solar already supplied about 27–30% of EU electricity.

I will agree, however, with one of Rådström’s claims. She notes that, “some use cases of our customers are better suited for fuel cells than electric trucks – the fuel cell truck will allow higher payload and longer ranges.” That’s debatable, but widely accepted as true … for now. Daimler’s own research into lighter, more energy-dense, and lower-cost solid-state battery technology, however, may mean that it won’t be true for long, however.

Unless, of course, Mercedes’ solid-state batteries don’t work (and she would know more about that than I would, as a mere blogger).

Electrek’s Take


Mahle CEO: "We will fail if we don't use blue hydrogen"
Via Mahle.

As you can imagine, the Karin Rådström post generated quite a few comments at the Electrek watercooler. “Insane to claim that building hydrogen stations would be cheaper than building chargers,” said one fellow writer. “I’m fine with hydrogen for long haul heavy duty, but lying to get us there is idiotic.”

Another comment I liked said, “(Rådström) says that chargers need to be on the grid – you already have a grid, and it’s everywhere!”

At the end of the day, I have to echo the words of one of Mercedes’ storied engineering partners and OEM suppliers, Mahle, whose Chairman, Arnd Franz, who that building out a hydrogen infrastructure won’t be possible without “blue” H made from fossil fuels as recently as last April, and maybe that’s what this is all about: fossil fuel vehicles are where Daimler makes its biggest profits (for now), and muddying the waters and playing up this idea that we’re in some sort of “messy middle” transition makes it just easy enough for a reluctant fleet manager to say, “maybe next time” when it comes to EVs.

We, and the planet, will suffer for such cowardice – but maybe that’s too much malicious intent to ascribe to Ms. Rådström. Maybe this is just a simple “Hanlon’s razor” scenario and there’s nothing much else to read into it.

Let us know what you think of Rådström’s pro-hydrogen comments, and whether or not Daimler’s shareholders should be concerned about the quality of the research behind their CEO’s public posts, in the comments section at the bottom of the page.

SOURCE | IMAGES: Karin Rådström, via LinkedIn.


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New electric AUDI E SUV concept promises 670 hp, 435 mile range

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New electric AUDI E SUV concept promises 670 hp, 435 mile range

Audi embraced its future in China with the launch of a new Chinese market electric sub-brand called AUDI that ditched the iconic “four rings” logo in favor of four capital letters – but one thing this latest concept hasn’t ditched is the brand’s traditionally teutonic long-roof design language.

Co-developed with Audi’s Chinese production partner, SAIC, the all-new AUDI E SUV concept is based on the PPE (Premium Platform Electric) skateboard, and is only the second model introduced by the company’s domestic sub-brand — which was all-new itself just one year ago.

“The AUDI E SUV concept celebrates the new AUDI brand’s first anniversary following the E concept’s debut in Guangzhou (2024),” said Fermín Soneira, CEO of the Audi and SAIC cooperation, at the E SUV’s unveiling. “It showcases an unmistakable AUDI design language that gives the SUV a prestigious, progressive stance — with no compromise between sporty aesthetics and interior roominess or versatility. This concept embodies our vision for premium electric mobility by fusing Audi’s engineering heritage with digital innovation to fulfill our commitment in China.”

As a vehicle, the AUDI E SUV concept promises to handle “like an Audi,” and is powered by a pair of electric motors good for a combined 500 kW (~670 hp), good enough to get the big crossover from 0-100 km/h (62 mph) in about five seconds. Those efficient motors are fed electrons by a 109 kWh battery riding on AUDI’s 800V Advanced Digital Platform system architecture, and can allegedly add 320 km (~200 miles) of range in under 10 minutes at a high-powered DC fast charging station.

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If you’re a fan of self-driving tech, the AUDI 360 Driving Assist System is the AUDI E SUV concept is for you, with features that, “enable a relaxed and safe driving experience – on highways, in dense city traffic, and during assisted parking.”

No word yet on pricing, but it likely won’t matter. As successful as the AUDI sub-brand has been, it’s still a long shot that we’ll ever get these Stateside, no matter what Canada does.

AUDI E SUV concept


SOURCE | IMAGES: Audi.


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New Renault electric van SHOULD be coming to America — as a Nissan

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New Renault electric van SHOULD be coming to America — as a Nissan

Unless they have vivid memories of guys like Nigel Mansell, Fernando Alonso, and Sebastian Vettel driving the wheels off a screaming, Renault-powered Formula 1 car, it’s tough to get an American to care about a new Renault — but Nissan’s renewed willingness to work with its old partners means we may yet get the new Trafic E-Tech here. (!)

First shown as thinly-veiled concepts co-developed with Volvo back in February, the Renault Trafic E-Tech shown here made its official debut in full production spec and trim at this week’s Solutrans 2025 logistics show. The best part: it arrived looking nearly identical to the radical and well-received concept.

And, in case you’re thinking Renault just got lucky with the styling, you can stop thinking that. The official press release rambles on and on (and on) about the Trafic E-Tech’s styling, going in depth into such apparently mundane topics as the quality of the grain on the new Trafic E-Tech van’s black plastic bumpers:

The front bumper comprises a large section with a black grained finish. Each constituent part was the focus of extensive design work, in order to showcase the overall appearance while avoiding a bulky look. The black grained plastic of the lower bumper section features a laser pattern, similar to Scenic E-Tech electric. This attention to finish is a signature of the new Renault design language.

RENAULT

Nearly every paragraph of the release is like this. Here’s a section about the shape of the van’s windshield that reads, “the futuristic style of Trafic can also be seen in its visor-like windscreen, made up of the windscreen itself and the two side windows.”

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The van’s designers care, in other words — they care so freakin’ much about this niche product that they probably doodle it, idly, in the margins of their notebooks when they’re supposed to be listening in whatever staff meeting they just got dragged into. And that level of caring made me think of a once-and-future Renault partner who could use that level of caring in its North American product line.

Enter: Nissan


2011 Nissan Cube ; via Nissan.

Back in March, I wrote that the key thing that Nissan had to do in order to stage a successful comeback was care about its products — and, in that article, I used the lowly Nissan Cube to highlight just how much Nissan used to care about its products.

Nissan used to care so much about its product, in fact, that it once did something that seems unthinkable in today’s modular-construction, Ultium electric-skateboard-platform EV age. And what made that “something” all the more astonishing was that they didn’t do this for the six-figure GT-R or some 370Z halo car – they did it for the Cube.

That decision speaks to an absolutely massive commitment. A commitment to build two sets of stampings, two sets of expensive window shapes, two sets of stuff I probably haven’t even considered, and it was all done for what? To eliminate a blind spot?

Can you imagine the amount of sheer, epic, truckloads of f*cks you would have to give in order to sit in a boardroom and argue that your company should spend millions of dollars in tooling and certification and assembly line re-jiggering because someone, somewhere else, might have a bit of a blind spot when they look over their right shoulder? (!)

The mere suggestion of such a thing would be a career-ender at most brands, and Nissan didn’t just listen to that unnamed engineer, they did it. They built an entire mirror-image of their home market Cube, and they did it so quietly that I bet more than a few of you reading these words never even realized they’d done it at all.

Today, Nissan’s best-effort at caring is launching an “all-new Rogue PHEV” that’s actually a rebadged Mitsibishi Outlander PHEV that was all-new itself way back in 2013. And that decade-plus-old car? It’s a significant upgrade to the last heap that wore the Rogue badge … largely because Mitsubishi, you know, still cares about the quality of its new products.

Renault cares enough for everyone


Renault gives truckloads of f*cks. Van-loads, anyway, and now that Nissan seems more open to enter into JVs with its partners in China and Japan, it seems entirely possible that they’ll come crawling back to their old Renault alliance partner. And, when they do, Renault’s level of caring could do wonders for a next-generation, all-electric Nissan Quest based on the Trafic E-Tech.

Heck, they wouldn’t have to do much more than change the logo on the front and make the infotainment graphics red and white instead of gray and yellow and they’d be there.

And that new-age Nissan Quest based on the Renault Trafic? It would offer up to 280 miles of European cycle range and motivate itself around US roads with a ~200 hp (150 kW) electric motor pushing out 345 Nm (~255 lb-ft) of off-the line grunt — which isn’t too far off Nissan’s last V8-powered van offering!

Great styling, plenty of room, peppy performance, and zero emissions? I’d take a look at it, for sure — and, since there aren’t any other electric van options in the US*, I think a lot of other people would, too.

SOURCE | IMAGES: Renault.

NOTE: I know the Tesla Model X is basically an electric minivan, but a) the bros hate it when you call their Model X a minivan, and b) the doors are stupid.


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