OpenAI, Nvidia Fuel $1 Trillion AI Market With Circular Deals (1)

Two weeks ago, Nvidia Corp. agreed to invest as much as $100 billion in OpenAI to help the leading AI startup fund a data-center buildout so massive it could power a major city. OpenAI in turn committed to filling those sites with millions of Nvidia chips. The arrangement was promptly criticized for its “circular” nature.

This week, undeterred, OpenAI struck a similar deal. The ChatGPT maker on Monday inked a partnership with Nvidia rival Advanced Micro Devices Inc. to deploy tens of billions of dollars’ worth of its chips. As part of the tie-up, OpenAI is poised to become one ...