Jensen Huang, CEO of Nvidia (Johannes Neudecker/Getty Images)

Nvidia jumps on plans to invest up to $100 billion in OpenAI as part of data center expansion

Shares of Nvidia vaulted on the news, as CEO Jensen Huang says the new project would involve 4 million to 5 million GPUs.

Jon Keegan, Nate Becker

9/22/25 11:27AM

Nvidia shares jumped as the company said it would invest as much as $100 billion into OpenAI as part of an unprecedented data center buildout.

Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman made the announcement on CNBC midday Monday. Nvidia would invest the money “progressively as each gigawatt is deployed,” according to CNBC reporting.

Shares of Nvidia were recently up 3.9%, vaulting on the news after being slightly negative before the announcement.

The two companies will work together to build out an unprecedented 10 gigawatts of capacity over several years, an endeavor that Huang said on CNBC would be “the biggest AI infrastructure project in history” and “the largest computing project in history.”

For scale, 10 gigawatts of power is roughly equivalent to the average demand of 8 million US households — the population of New York City.

In the interview with CNBC, Huang said:

“This new project that we’re talking about [is] 10 gigawatts, or roughly 4 million, 5 million GPUs. That’s approximately, in one project, what we shipped all year this year, and twice as much as last year.”

Per the announcement, the first systems, which will use Nvidia’s next-gen Vera Rubin platform, will come online in the second half of 2026.

The details of the plan will be finalized in the “coming weeks.”

Max Knoblauch2h

Airlines rise, continuing their volatile 2026, as US-Iran talks may foreshadow some oil supply relief

Airline stocks are surging on Friday, as the market appears to be pricing in some medium-term oil pricing relief following talks between the US and Iran. Iranian officials referred to the meeting as “a good beginning.”

Shares of budget carriers, which have tighter margins and are more sensitive to fluctuations in fuel costs, are leading the surge. Frontier Airlines and Allegiant up more than 13%, while major airlines like United Airlines, American Airlines, and Delta Air Lines are also up at least 6%. JetBlue and Alaska Air are similarly up about 6%.

The market more broadly is rebounding on Friday, with the S&P 500 up 1.6% and bitcoin recovering some of this week’s losses.

Airlines have been volatile to start 2026 amid geopolitical tensions, varying annual forecasts, and the impact of winter storms.

Luke Kawa4h

The AI supply chain is soaring thanks to Amazon’s capex budget

If tech companies are going to spend way more than expected on capex, well, that means other companies are poised to benefit from that massive spending spree.

Amazon’s plan for $200 billion in business investment this year was the exclamation point to end a reporting period that saw every Magnificent 7 hyperscaler that provides guidance offer a 2026 capex budget well above what Wall Street had anticipated.

Here’s a look at the different parts of the supply chain that are soaring on the persistent demand for, and seeming scarcity of, AI compute:

Data center/neocloud companies: Applied Digital, CoreWeave, Cipher Mining, and Nebius, with some of these seemingly getting an extra lift from their legacy role as crypto miners.
Chips: the usual suspects — Nvidia, Broadcom, and Advanced Micro Devices.
Racks: Super Micro Computer, which is continuing its strong run following earnings, and Dell.
Power: Oklo, Nuscale, and Plug Power.

Big Tech capital expenditure soared in 2025. It’s going up another 50% in 2026.

Here’s a look at the different parts of the supply chain that are soaring on the persistent demand for, and seeming scarcity of, AI compute:

Data center/neocloud companies: Applied Digital, CoreWeave, Cipher Mining, and Nebius, with some of these seemingly getting an extra lift from their legacy role as crypto miners.
Chips: the usual suspects — Nvidia, Broadcom, and Advanced Micro Devices.
Racks: Super Micro Computer, which is continuing its strong run following earnings, and Dell.
Power: Oklo, Nuscale, and Plug Power.

Matt Phillips4h

For memory chips, the “parabolic price hike” is continuing to ramp higher

The remarkable run-up in prices for memory chips continued into early February, analysts at Bernstein Research say, driven largely by data center demand from hyperscalers and cloud service providers (CSP).

Prices for NAND flash memory wafers — a type of memory used in devices, as it retains data even when powered down — soared 35% between the end of 2025 and February 2.

Spot prices for DRAM — ubiquitous short-term data storage chips — jumped about 28% in that period. But that massively understates the remarkable shift in pricing for what were long seen as commodity tech hardware inputs. DRAM prices are more than 2,000% over the last year, while NAND prices are up more than 600% in that period.

The ongoing momentum provides still more support for memory chip plays like Micron and Sandisk, which have been big market winners in recent months.

In a note published earlier this week, Bernstein Research analysts wrote:

“The parabolic price hike continued in Jan. Indicated price increase for 1QCY26 is much stronger than we expected and we hence see upside to our near term memory pricing projection. Unrelenting CSP demand remained the main driver. PC and Mobile demand hasn’t been destroyed yet because of lean inventory & pull-forward purchase. Going forward price hike is expected to continue but likely at a slower rate, as PC and Mobile demand should contract meaningfully this year. Price however may stay elevated throughout this year, supported by CSP demand.”

Chip Unveils Rap Star Wax Figures At Madame Tussauds

Why there’s a “huge vibe divergence” between tech and finance on AI

Tech evangelists are hailing a Claude-fueled seismic shift in computer-based work. Investors are, by and large, selling AI stocks.

Luke Kawa5h

Matt Phillips6h

Bloom Energy earnings get warm reception from analysts

Fuel cell-based power provider Bloom Energy posted better-than-expected Q4 earnings and sales results after the bell on Thursday, sending the stock higher aftermarket and into early Friday trading. Here’s some of the positive chatter from analysts reacting to the bullish results:

Barclays: “What to know: 1) 2026 guide well above the Street for all metrics; 2) Product backlog comes in at $6.0bn with services backlog of $14.0 bn, reflecting 100% attach rate on new bookings.”

Morgan Stanley: “An inflection in growth is now beginning to show up in the financials. Significant 4Q25 earnings beat, product backlog up 2.5x, and 2026 revenue guidance meeting our Street-high forecast: >50% YoY as demand begins to ramp. We stay OW, raise PT to $184 on recent project wins.”

JP Morgan: “We are adjusting our estimates and introducing FY28 estimates with this note. Our YE26 price target goes to $166, from $154. While the stock has significantly outperformed YTD, we maintain our Overweight rating and believe that additional contract announcements should provide further positive catalysts and potentially increased visibility into our unit shipment vs margin sensitivity analysis (see below).”

Evercore ISI: “The most noticeable and arguably most anticipated metric Bloom provided was its current product backlog which currently stands at $6B representing a ~2.5x increase YoY, with total current backlog (product and services) ballooning to $20B. These impressive backlog metrics should provide confidence in the company’s ability to deliver on its newly established $3.1-$3.1B 2026 revenue target (vs. cons. of ~$2.1B) and double its non-GAAP operating income ($450M midpoint vs. $221M 2025A).”