Oracle invests $40 billion in Nvidia chips to build one of the world's largest data centers

Forward-looking: Oracle has committed to spending approximately $40 billion on Nvidia's latest high-performance chips to power a massive new data center in Abilene, Texas. The facility will require up to 1.2 gigawatts of power once fully operational and serves as the flagship site of the Stargate project – a $500 billion initiative led by OpenAI and SoftBank to reshape the landscape of AI computing in the United States and beyond. The facility will cover eight buildings across 875 acres. Crusoe Energy Systems and Blue Owl Capital raised $15 billion in debt and equity to finance the buildout. JPMorgan played a key role by providing $9.6 billion in loans, including a recently announced $7.1 billion tranche. When crews complete construction, the Texas facility will be one of the world's largest data centers when it opens in mid-2026. OpenAI has entered into a 15-year lease for the entire campus, which insiders told the Financial Times would run on roughly 400,000 Nvidia GB200 superchips ... Read full article.