These are top 10 stocks traded on the Robinhood UK platform in July
Investing.com -- OpenAI, the artificial intelligence research lab, is reportedly considering purchasing billions of dollars’ worth of data storage hardware and software. According to The Information, citing three insiders, the company is also contemplating building its own data center for the first time to accommodate this hardware.
This potential move would instantly make OpenAI one of the largest storage customers globally. It mirrors the company’s ambition to have greater control over the data crucial for developing artificial intelligence.
The discussions about this potential purchase and construction come at a time when OpenAI is looking to decrease its dependence on Microsoft (NASDAQ:MSFT), its long-time cloud server and storage provider. The company seems to be moving towards not relying entirely on external firms for its storage needs. Up until now, OpenAI has not operated any of its own data centers.
A storage deal of this magnitude could also be a cost-saving measure for OpenAI. As the company increases its use of servers from Oracle (NYSE:ORCL) and CoreWeave, alongside Microsoft, transferring data between these providers could be more expensive than housing the data in its own facility.
However, OpenAI has not yet finalized a deal and may use these storage discussions as a bargaining chip with its cloud providers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.