OpenAI Struck $1.5 Trillion Deals Without External Advisers, Report Says
OpenAI CEO Sam Altman and a close group of senior executives reportedly finalized deals worth up to $1.5 trillion without significant input from external advisers, according to a report by the Financial Times on Sunday.
The report said that Altman and his inner circle largely avoided using bankers or lawyers when negotiating major chip supply agreements earlier this year with NVIDIA Corporation (NASDAQ: NVDA), Oracle Corporation (NYSE: ORCL), AMD (NASDAQ: AMD), and Broadcom Inc (NASDAQ: AVGO). Instead, Altman relied on a few trusted executives, including President Greg Brockman, CFO Sarah Friar, and other recently promoted members of the leadership team.
Altman’s Team Focused on Technology Over Finances
While the massive chip deals helped trigger extended rallies on Wall Street, insiders told the FT that Altman’s group prioritized the technical aspects of AI chips rather than the financial terms. The focus was reportedly on securing access to advanced computing hardware to expand OpenAI’s infrastructure.
One of the most notable agreements was with NVIDIA, which committed to investing up to $100 billion in OpenAI. In return, OpenAI would spend as much as $350 billion on NVIDIA’s advanced AI chips, according to the report. Neither company sought external advisory support for the negotiations.
OpenAI’s Growing Role in the AI Boom
OpenAI remains at the center of the ongoing AI-driven technology boom, which has reshaped global markets over the past three years. Following the success of ChatGPT, the company has accelerated efforts to expand data centers and increase computing power through large-scale chip investments. These partnerships are part of OpenAI’s long-term strategy to lead the next phase of artificial intelligence development.
