🇺🇸 United States: AI money in and out

FT: Microsoft gives up the option that would have more than doubled the Texas contract (tens of billions); the existing contract remains.

Five-tranche issue with orders of up to $58 billion; S&P moves the outlook to negative due to high capex.

Oracle files a $10 billion bond issue together with $10 billion of shares to fund data centers.

Microsoft places $25 billion of bonds in ten series, its first US issue since 2017, as it ramps up data center spending.

Nvidia is negotiating to guarantee Nscale's debt for a 460 MW data center to be used by Anthropic.

According to The Information, OpenAI plans to purchase (not just rent) Google TPUs; no contract confirmed.

The US Department of Energy conditionally grants a $5 billion loan to Constellation for nuclear plants that will power data centers.

Nvidia subscribes to $3 billion of the share offering with which Meta raises $95 billion for AI (AMD $1 billion); in return Meta expands Vera Rubin and Vera CPUs.

Talks for at least $1 billion at about $20 billion, with existing backers Avenir and Lux Capital in talks to lead the round.

A SpaceX affiliate buys Nvidia Vera Rubin chips and leases them to the group, with ~$40 billion of Apollo-led debt; leasing from the first half of 2027.

SpaceX (which absorbed xAI) signs a binding commitment of about $40 billion led by Apollo, with Goldman Sachs and PIMCO, to buy Nvidia Vera Rubin chips and data center equipment.

In the roughly $60 billion package to finance 1.5 GW of Google TPUs for Anthropic, Blackstone funds take $9 billion of the junior tranche with a 10% coupon.

Bank of America, Citi and Morgan Stanley arrange the senior debt (about $42-43.5 billion) of the vehicle buying Google/Broadcom chips for Anthropic; Broadcom guarantees the chips' residual value.

At the Invest in Germany Summit Amazon announced over €16B in Germany for 2027, €4.8B of it for the AWS Frankfurt region.

Bloomberg: talks for a second 460 MW Monarch facility; terms not final.

Blackstone and Coatue would lead the last private round before a possible listing in 2027.

SpaceX (with xAI) is negotiating with banks and investors, led by Apollo and including Pimco, about $40 billion of debt to buy Nvidia chips for Colossus.

SoftBank completes its acquisition of DigitalBridge, the digital infrastructure and data center manager, announced in December 2025.

AMD acquires Fei-Fei Li's World Labs (spatial intelligence models) in stock; she becomes chief scientist; closing expected by end of 2026.

Nvidia commits $1 billion in convertible notes in Nscale's $3.36 billion pre-IPO round; Nscale leases capacity to Microsoft and Anthropic.

Third Point leads Nscale's pre-IPO round in convertible notes ($2.36 billion upfront plus $1 billion from Nvidia), with Apollo, Citadel and Abu Dhabi fund ADIC.

Series F led by Atreides, Mubadala and Valor; the valuation triples from the October 2025 Series E (over $10 billion).

According to Reuters, Nvidia is weighing becoming an anchor investor in Anthropic's IPO, which aims to raise up to $100 billion at a valuation of about $2 trillion. In March Huang had said the 2025 investment would probably be the last.

Qualcomm co-develops custom inference chips and 1.6 Tbps optical interconnects for AWS; $60 billion is the purchase ceiling at which the warrant fully vests.

Qualcomm issues Amazon a warrant for up to 25 million shares at $161.26, vesting in tranches with purchases.

$2 billion round at $48 billion co-led by Andreessen Horowitz, Accel, Founders Fund, General Catalyst and Avenir. ARR from $492 million to $900 million in four months.

Korea's science ministry plans ₩3.85tn for 140 Nvidia Vera Rubin NVL72 racks (10,080 GPUs), ₩27.5bn per rack.

Signed on 2 September and confirmed in an 8-K; closing expected in the first half of 2027 pending approvals. The platform will remain open and not tied to Nvidia hardware.

Multi-year deal for 100,000 Nvidia Vera Rubin GPUs at the Barstow (Texas) site from 2027; Nscale also takes a stake in Figure. Nvidia is a shareholder in both.

Fluidstack, builder of Anthropic's Google-backed data centers, raises $1.5 billion led by Jane Street and rises to an $18 billion valuation.

At LEAP 2026 Together AI signs with HUMAIN for a new 250 MW Saudi data centre, using HUMAIN compute with a revenue share.

SK Hynix broke ground on its $4bn+ HBM packaging plant in West Lafayette, Indiana; mass production slated for H2 2029.

Riding demand, Amazon adds 2 million Nvidia GPUs (Blackwell Ultra, Rubin, Rubin Ultra) for AWS, with deliveries in 2027-2028.

Four GPU service contracts (Vera Rubin) at the Monarch campus, revealed in Nscale's S-1; Nscale has yet to finance them.

According to a letter to investors, Nvidia pays $6 billion for a non-exclusive license and part of the team: the same structure used with Groq.

Alongside the license, Poolside receives $1 billion of equity at a $12 billion pre-money valuation.

Nvidia takes a stake in SB Energy with $1.5 billion and provides credit support for land, power and facilities at the PORTS-Pike campus (Ohio); Reuters reports guarantees of up to $105 billion.

SB Energy builds, owns and operates the PORTS-Pike campus with 4.25 GW initially (8 GW with option) on Nvidia compute only, under a 20-year lease to OpenAI.

In April SpaceX obtained an option to buy at $60 billion (or pay $10 billion for the collaboration); deal formalized on 16/06/2026 after the IPO and closed on 14/08/2026 in stock. In the 10-Q the accounting consideration is $42.5 billion plus $23.4 billion of employee equity awards.

Talks worth about $6 billion for the Israeli inference-efficiency startup; in early September Anthropic withdraws after due diligence.

Term sheet at $188 billion announced on 17/07/2026, closed at $5 billion and a $190 billion valuation. Coatue leads; Blackstone, MGX, T. Rowe Price and Sixth Street Growth participate. The initial target was $1 billion.

CoreWeave closes a new $2.6 billion delayed-draw loan for AI infrastructure.

Nvidia signs memoranda of understanding with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR for financing platforms to mobilize over $500 billion for buyers of Nvidia compute.

Talent and non-exclusive license deal with the coding-agent startup; co-founder Tamay Besiroglu joins DeepMind.

SpaceX and Tesla initially invest $16.8 billion in the Terafab AI chip complex in Texas, using Intel's 14A process; SpaceX/xAI will use about 75% of it.

Tesla joins SpaceX in the first $16.8 billion investment in the Terafab chip plant in Texas.

Banks led by Morgan Stanley are negotiating about $15 billion for Nexus Data Centers, which is building a campus in Hubbard, Texas, leased to Anthropic. In October the bond sale is postponed due to Texas's halt on connections.

Google guarantees the four lease contracts signed by Anthropic with Nexus and the related power purchases, and receives about 20% of the project.

Anthropic signs four lease contracts for Nexus Data Centers' AI campus in Hubbard, Texas.

Nvidia becomes Naver's third-largest shareholder to accelerate Korean AI factories; the deal is tied to $9 billion of project financing (Brookfield). Payment expected 06/11/2026.

Long-term partnership: Nvidia invests about $5 billion in Safe Superintelligence, which gets priority access to Vera Rubin. Much of the money will flow back to Nvidia in GPU purchases.

SSI gets priority access to the Vera Rubin platform, which should multiply its compute capacity roughly tenfold.

Samsung signs a memorandum with Broadcom on memory, foundry and advanced packaging through 2030, estimated by Samsung at about $200 billion.

BlackRock vehicle (Global Infrastructure Management and HPS, 80%) places $12.3 billion of bonds for Meta's campus in Texas; Meta keeps 20%.

Nvidia and SK sign a multi-year initiative of up to ~$500 billion: HBM4 supply for Vera Rubin, memory co-development and a 2 GW SK Telecom data center with Nvidia systems from 2027.

Galaxy Helios Data Centers II prices $3.5 billion of 9.875% bonds to build Phase II, leased to CoreWeave ($10.4 billion of minimum rent).

OpenAI plans a $20 billion campus in Effingham County, Georgia, with at least 3.2 GW supplied by Georgia Power between 2028 and 2032; OpenAI pays the grid costs. The same day the WSJ reports infrastructure spending of $750 billion through 2030.

Anthropic will install 2 GW of AMD Instinct MI450 GPUs in Helios racks, with the first gigawatt in the first half of 2027.

In exchange for the 2 GW order, AMD commits to a strategic investment of up to $5 billion in Anthropic.

After closing the $40B buyout, the MGX, AIP and BlackRock GIP consortium commits a further $5B to expand Aligned's AI capacity.