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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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
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.
If you drive an electric vehicle, make charging at home fast, safe, and convenient with a Level 2 charger installed by Qmerit.As the nation’s most trusted EV charger installation network, Qmerit connects you with licensed, background-checked electricians who specialize in EV charging. You’ll get a quick online estimate, upfront pricing, and installation backed by Qmerit’s nationwide quality guarantee. Their pros follow the highest safety standards so you can plug in at home with total peace of mind.
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.
Advertisement – scroll for more content
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.”
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
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. (!)
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.”
Advertisement – scroll for more content
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.
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? (!)
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.
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.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.