OpenAI targets $100bn war chest as $750bn valuation talks emerge

If even partially accurate, these funding discussions underscore just how capital-intensive the race to frontier AI has become. A $750 billion valuation and a triple‑digit billion fundraising target would place OpenAI in a league usually reserved for the very largest public tech companies, effectively signaling that investors see frontier model development and compute infrastructure as a once‑in‑a‑generation platform bet, not just another software category. The reported linkage to the "Stargate" megaproject and soft‑bankrolled infrastructure vehicles suggests OpenAI is trying to secure multi‑year access to GPUs, alternative accelerators, and data center capacity at a scale that competitors will struggle to match. ([digit.fyi](https://www.digit.fyi/openai-valuation/?utm_source=openai))

At the same time, rumored talks with Amazon on a >$10 billion stake, alongside existing ties to Microsoft and Oracle, highlight how hyperscalers are converging around OpenAI rather than competing cleanly with it. That deepens the moat around OpenAI’s models, but it also creates complex interdependencies across cloud, chips, and model providers. For the broader ecosystem, the message is stark: access to frontier‑class compute will increasingly be mediated by a handful of firms with balance sheets and political leverage to match. Everyone else—startups, smaller labs, even many nations—will need to either federate or specialize.