Nvidia scales back OpenAI data-center funding guarantee to less than $120 billion from original commitment.
Nvidia has scaled back its financial commitment to OpenAI's proposed data center project in Ohio, with the chipmaker now expected to initially guarantee less than US$120 billion, down from the US$250 billion previously discussed, according to reporting by the Wall Street Journal. Nvidia and OpenAI are nearing an agreement under which the chipmaker would provide a financial backstop only for the first phase of the project. The revision follows investor concerns about Nvidia's risk exposure tied to large financing commitments.
This development comes after Nvidia partnered with six major financial institutions to launch compute financing platforms aimed at raising over US$500 billion in third-party capital for artificial intelligence infrastructure. OpenAI continues to discuss a binding lease for the full 10-gigawatt Ohio project, which is being developed by SB Energy, a subsidiary of SoftBank Group Corp. If completed, it would become the largest data center project announced to date.
The project represents OpenAI's push toward owning its own AI infrastructure, though the company's ability to fund large-scale commitments remains under scrutiny given its unprofitable status despite a US$852 billion valuation.
Nvidia separately disclosed substantial investment positions on Friday: a nearly US$21 billion stake in SpaceX and a US$30 billion investment in Intel Corp. According to regulatory filings, Nvidia held approximately 122.8 million shares in SpaceX as of June 30 and about 214.8 million shares in Intel. The chipmaker also held stakes in Coherent Corp, Generate Biomedicines Inc, Nebius Group NV, Nokia Corp, and Synopsys Inc as of the same date.
Taiwan's E.Sun Financial Holding Co is set to formally merge with Mercuries Life Insurance Co on September 1, creating Taiwan's fifth-largest listed financial holding company by assets. The merger will pave the way for capital injections totaling NT$22 billion (US$683.91 million) to shore up the insurer's finances. E.Sun Financial chairman Joseph Huang announced the merger at a news conference in Taipei, stating that "the first priority after the merger will be to bring the insurer back to health through capital injections." E.Sun plans to inject NT$16 billion into Mercuries Life the following month, with an additional NT$6 billion to follow in the subsequent year.
Taiwan Semiconductor Manufacturing Co and Sony Group Corp are in advanced discussions to jointly invest approximately ¥1 trillion (US$6.3 billion) in an image sensor factory in Japan. The companies are targeting production commencement in 2029. TSMC's board has approved investment of ¥282 billion (US$1.77 billion) to form a joint venture with Sony Semiconductor Solutions Corp, called Advanced Vision Semiconductor Manufacturing Corp, to develop and manufacture next-generation image sensors for smartphones. The facility will be located in Koshi City, Kumamoto Prefecture. Sony Semiconductor plans to invest ¥465 billion in the joint venture through a combination of cash and assets, with capital contributions made in phases.
China's humanoid robot makers have captured more than 97 percent of global shipments in the first half of this year, according to industry data from Smart Analytics Global. Global humanoid robot shipments totaled approximately 19,100 units in the period, representing more than triple the 5,100 units shipped in the same period last year. The California-based research firm projects shipments will rise to around 60,000 units this year and reach 500,000 by 2030, underscoring China's commanding early lead against US rivals in the field.