OpenAI正在订购数千亿的AI芯片, 冒着债务风险, OpenAI is ordering hundreds of billions in AI chips, risking debt and sparking debate over its unprofitable growth model.

OpenAI正在以人工智能芯片订单(26千兆瓦)和来自Nvidia、AMD和Broadcom的1 000多万个单位获得数千亿美元的人工智能芯片订单, OpenAI is securing hundreds of billions of dollars in AI chip orders—26 gigawatts and over 10 million units from Nvidia, AMD, and Broadcom—driving concerns over how the unprofitable startup will finance such massive infrastructure spending despite $13 billion in annual revenue. 该公司预计至少到2029年仍然无利可图,并可能依赖债务,可能利用芯片作为抵押。 The company expects to remain unprofitable until at least 2029 and may rely on debt, possibly using chips as collateral. Nvidia计划通过循环融资模式进行1 000亿美元的投资,而AMD正在提供股权选择。 Nvidia plans a $100 billion investment through a circular financing model, while AMD is offering equity options. OpenAI与Google和Meta不同, 后者通过利润资助AI, OpenAI依赖外部资本, 引发关于支出是否反映实际需求或投机泡沫的辩论。 Unlike Google and Meta, which fund AI via profits, OpenAI depends on external capital, sparking debate over whether the spending reflects real demand or a speculative bubble.