Global technology companies are committing unprecedented sums to artificial intelligence infrastructure as demand for computing power accelerates across the economy. From cloud hyperscalers to chipmakers and data center operators, the race to secure AI capacity has intensified, reshaping capital spending priorities and strategic alliances across the sector.

OpenAI at the Center of the Capital Wave

OpenAI has emerged as the focal point of the AI infrastructure boom, drawing interest from a wide range of strategic partners. Amazon is in discussions about a potential investment that could exceed $10 billion and value the ChatGPT parent at more than $500 billion, highlighting the scale of capital now being deployed to secure access to advanced AI models and compute capacity. Separately, Walt Disney has agreed to invest $1 billion in OpenAI and license characters from franchises such as Star Wars, Pixar, and Marvel for use in OpenAI’s Sora video-generation platform, signaling AI’s growing influence on media and entertainment.

To reduce reliance on third-party hardware, OpenAI has also partnered with Broadcom to develop its first in-house AI processors, while AMD has agreed to supply chips under a multi-year deal that includes an option for OpenAI to acquire up to roughly 10% of the chipmaker. Nvidia, already a critical supplier, is set to invest up to $100 billion in OpenAI while continuing to provide data center chips, underscoring the symbiotic relationship between leading model developers and semiconductor giants.

Cloud and Data Center Deals Redefine Scale

The AI boom is driving some of the largest cloud infrastructure agreements ever recorded. Oracle is reported to have signed a deal under which OpenAI would purchase up to $300 billion in computing power over roughly five years, while Nvidia-backed CoreWeave secured a $11.9 billion, five-year contract with OpenAI earlier this year. These agreements reflect the enormous compute requirements associated with training and deploying frontier models.

Beyond OpenAI, Meta Platforms has signed a $14 billion agreement with CoreWeave to secure compute capacity and is in talks with Oracle on a separate multi-year cloud deal valued at around $20 billion. Google, meanwhile, struck a six-year cloud computing agreement with Meta worth more than $10 billion and announced plans to invest $40 billion in new data centers across Texas through 2027.

Chipmakers and Strategic Equity Stakes

Investment activity extends beyond cloud contracts into equity stakes and joint ventures. Nvidia is investing $5 billion in Intel, gaining a roughly 4% stake, while also backing CoreWeave through large capacity commitments. Microsoft and Nvidia are jointly investing up to $15 billion in Anthropic, with the startup pledging $30 billion in cloud spending and committing to massive compute capacity powered by Nvidia’s latest hardware.

Meta has taken a 49% stake in Scale AI for about $14.3 billion, bringing its young CEO into a key role in Meta’s AI strategy. Tesla, for its part, signed a $16.5 billion chip supply deal with Samsung Electronics for its next-generation AI6 processor, further illustrating how AI workloads are reshaping semiconductor demand.

Infrastructure as Strategic Necessity

Collectively, these deals point to a structural shift in how technology firms compete. Access to compute, data centers, and custom silicon is no longer just an operational concern but a strategic imperative that can determine long-term market leadership. As AI adoption spreads across industries, capital intensity in the sector is rising sharply, with infrastructure increasingly viewed as the foundation of future growth rather than a cost center.