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Investing.com -- Crusoe, the startup building a Texas data center for OpenAI, has obtained new funding commitments totaling $11.6 billion, according the Wall Street Journal. This funding will enhance OpenAI’s long-term computing capabilities, a crucial aspect of the ChatGPT maker’s operations.
The funds, consisting of both debt and equity, will allow the data center to grow from two buildings to eight. Consequently, the total amount of funds secured for this project will reach $15 billion. Both Crusoe and Blue Owl Capital (NASDAQ:OWL), an investment firm, are providing cash for the data center project as part of the new financing round.
The data center, scheduled for completion next year, is anticipated to be the largest one used by OpenAI. Each building will operate up to 50,000 Nvidia (NASDAQ:NVDA) Blackwell chips, typically employed for training substantial language models.
The expansion of the Abilene site plays a crucial role in reducing OpenAI’s dependency on Microsoft (NASDAQ:MSFT) for computing power. For several years, OpenAI relied solely on Microsoft, but started to look for alternatives due to the tech giant’s inability to meet demand. Last spring, OpenAI turned to Oracle (NYSE:ORCL) for the use of the Abilene site after obtaining approval from Microsoft.
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