OpenAI's data center partners are accumulating nearly $100 billion in borrowings tied to the loss-making startup, while OpenAI itself is benefiting from a debt-fueled spending spree without financial exposure.
Companies such as SoftBank, Oracle and CoreWeave have borrowed at least $30 billion to invest in the startup or help build its data centers, according to a Financial Times analysis. Computing infrastructure companies such as investment groups Blue Owl Capital and Crusoe are also relying on deals with OpenAI to repay about $28 billion in loans.
A banking group is in talks to lend Oracle and data center builder Vantage an additional $38 billion to build additional sites for OpenAI, according to people familiar with the matter. The deal is expected to be finalized in the coming weeks.
Paying for OpenAI data center development, partners accumulate hundreds of billions of dollars in debt
2025-11-28 06:50:38
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