NVDA: Nvidia and OpenAI Partnership Could Generate $500 Billion Revenue
Sep 23 - Nvidia 
NVDA is moving into deeper collaboration with OpenAI via a $100 billion commitment, according to a note by Bank of America analysts led by Vivek Arya. The deal includes providing at least 10 gigawatts of AI infrastructure, starting in the second half of 2026, under a letter of intent.
BofA estimates the arrangement could generate $300$500 billion in total revenue over time. The analysts expect Nvidia to act as the preferred strategic compute and networking partner for OpenAI.
The agreement blends compute infrastructure and equity exposure: Nvidia will invest cash and deliver systems as OpenAI grows its AI capabilities. The circular nature of the deal, where funds flow back into chip purchases, raises questions about long-term structure and accounting treatment.
The partnership signals a bold bet by Nvidia that supplying infrastructure and owning equity in the AI stack can reshape its revenue profile.
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