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The Stargate Project, an AI initiative announced by former President Trump in January, is expected to require 64,000 Nvidia (NASDAQ:NVDA) GB200 GPUs by 2026, Bloomberg reported.
Warning! GuruFocus has detected 3 Warning Signs with NVDA.
The project, led by OpenAI, Oracle (NYSE:ORCL), and SoftBank (SFTBY), will receive an initial batch of 16,000 GPUs by this summer, with the rest arriving by next year, the report added, citing a source familiar with the details. The GPU demand is reportedly for just one data center and a single customer, highlighting the scale of the initiative. OpenAI, SoftBank, Oracle, and Nvidia did not immediately comment on the report.
The Stargate Project, backed by Microsoft (NASDAQ:MSFT) and Arm (NASDAQ:ARM), aims to deploy $100 billion initially, with a $500 billion total investment over four years. The first data center buildout has begun in Texas, with up to 10 sites planned across the U.S.
This article first appeared on GuruFocus.
Nvidia (NASDAQ: NVDA) stock set a new record closing high just shy of $150 in January, but it has since declined by 16%. The drop was triggered by news that a Chinese artificial intelligence (AI) start-up called DeepSeek figured out a way to train advanced models at a fraction of the cost — and with less computing power — than its American peers. Nvidia supplies the world’s most powerful data center graphics processing units (GPUs) for AI development, so investors were concerned DeepSeek’s methodology would drive a collapse in demand for those chips.
(Bloomberg) — The selloff that’s hammered Nvidia Corp. shares over the past month has market technicians tracking a key momentum indicator for signs of more trouble ahead.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesNJ College to Merge With State School After Financial StressRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling to 11-Year LowChart wat
ANI (ANIP) could produce exceptional returns because of its solid growth attributes.
AI stocks like NVIDIA, Fortinet, C3.ai and Palantir are worth buying as their opportunities for market expansion rise with the growing adoption of AI-based solutions among organizations.
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OpenAI, Oracle to build Texas AI data center with thousands of Nvidia chips
© Reuters
Investing.com — OpenAI and Oracle (NYSE:ORCL) plan to fill a new data center in Texas with billions of dollars worth of Nvidia (NASDAQ:NVDA)’s AI superchips as part of the “Stargate” infrastructure project, Bloomberg reported Thursday, citing unnamed sources.
The data center, located in Abilene, Texas, is expected to house 64,000 of Nvidia’s GB200 superchips by the end of 2026, the source told Bloomberg.
The rollout will occur in phases, with an initial 16,000 chips expected to be in place by this summer, the person said.
An OpenAI spokesperson, meanwhile, told Bloomberg that the startup is working with Oracle on the design and development of the Abilene data center, and that Oracle is in charge of obtaining and operating the supercomputer there.
Oracle didn’t respond to a Bloomberg’s request for comment, Bloomberg reported. Nvidia declined to comment.
The news comes more than a month after OpenAI, SoftBank (TYO:9984) Group Corp., and Oracle unveiled the Stargate project at a White House event in January.
Don’t miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year… In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That’s an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if ORCL is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.
© Reuters.
Investing.com – Indonesia stocks were higher after the close on Friday, as gains in the Infrastructure, Agriculture and Basic Industry sectors led shares higher.
At the close in Jakarta, the IDX Composite Index gained 0.35%.
The best performers of the session on the IDX Composite Index were Sona Topas Tourism Industry (JK:SONA), which rose 24.93% or 900.00 points to trade at 4,510.00 at the close. Meanwhile, Maskapai Reasuransi Indonesia (JK:MREI) added 24.83% or 185.00 points to end at 930.00 and Pudjiadi Prestige Tbk (JK:PUDP) was up 24.51% or 50.00 points to 254.00 in late trade.
The worst performers of the session were Fortune Indonesia Tbk (JK:FORU), which fell 24.87% or 485.00 points to trade at 1,465.00 at the close. Modern Internasional Tbk (JK:MDRN) declined 11.11% or 1.00 points to end at 8.00 and Pt Pradiksi Gunatama Tbk (JK:PGUN) was down 11.38% or 70.00 points to 545.00.
Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 310 to 282 and 244 ended unchanged.
Crude oil for April delivery was up 1.25% or 0.83 to $67.19 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 1.19% or 0.83 to hit $70.29 a barrel, while the April Gold Futures contract rose 0.04% or 1.26 to trade at $2,927.86 a troy ounce.
USD/IDR was down 0.16% to 16,280.20, while AUD/IDR fell 0.59% to 10,278.36.
The US Dollar Index Futures was down 0.35% at 103.67.
AI computing powers are changing the stock market. Investing.com’s ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
ORCL: A Bull or Bear Market Play?
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