Overview
- Investigative accounts say the Stargate joint venture remains unstaffed with no dedicated leader and has not broken ground after months of wrangling over who would own and control the data centers.
- OpenAI missed its 2025 10‑gigawatt target, reaching about 7.5 GW, and filled the gap by buying last‑minute capacity from AWS and Google Cloud.
- Oracle’s five‑year, $300 billion cloud pact with OpenAI has weighed on the company, with shares roughly halving, debt topping $100 billion, and a negative watch from S&P Global.
- SoftBank holds roughly 11% of OpenAI after a $22.5 billion investment, is exploring heavy debt financing, and has paused a planned $50 billion Switch acquisition because of regulatory hurdles.
- Some projects are reportedly moving forward, including a Texas deal giving SoftBank site ownership and development with OpenAI retaining design control and a long lease, while Nvidia says a touted $100 billion OpenAI investment was non‑binding and never closed.