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Oracle to Buy $40B in Nvidia Chips
Nvidia, Wallenberg Firms Launch AI Venture in Sweden
Algot Persson
May 25, 2025
In Today’s Issue:
Oracle to Buy $40B in Nvidia Chips
Nvidia, Wallenberg Firms Launch AI Venture in Sweden
Read time: 3 minutes
Oracle to Buy $40B in Nvidia Chips
Oracle plans to purchase $40 billion worth of Nvidia GB200 chips to power OpenAI’s new AI data center in Abilene, Texas, a cornerstone of the $500 billion Stargate infrastructure initiative led by OpenAI and SoftBank. The 1.2-gigawatt site, expected to go live by mid-2026, will be one of the world’s largest AI training facilities. Oracle will lease the eight-building campus for 15 years, supplying compute to OpenAI as it reduces reliance on Microsoft. The site is backed by Crusoe and Blue Owl Capital, who have secured $15 billion in debt and equity, with JPMorgan contributing $9.6 billion in loans. The Stargate project, with further expansion planned in the UAE, aims to build next-generation infrastructure to meet explosive AI compute demands.
Nvidia, Wallenberg Firms Launch AI Venture in Sweden
Nvidia and a consortium of Wallenberg-backed companies, including AstraZeneca, Ericsson, Saab, SEB, and the Wallenberg investment group, are launching a major AI infrastructure initiative in Sweden. The project includes building the country’s largest enterprise AI supercomputer and establishing Nvidia’s first AI technology center in Sweden. The initiative aims to drive advances in science, industry, and society. Saab plans to use the AI capabilities to accelerate defense technology, while other partners have committed to applying the tech in their respective fields. Marcus Wallenberg, Chair of Wallenberg Investments AB, said the venture is expected to generate broad economic and research benefits. The Wallenberg foundations invest over 2.9 billion SEK ($287 million) annually in research and education.
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