The $100B OpenAI–Nvidia flywheel

Author

Noel Moldvai
September 25, 2025

TL;DR. OpenAI and Nvidia just launched a $100B flywheel, with Nvidia helping fund the very GPUs OpenAI is buying to build out its infrastructure. Databricks announced a $100M deal to embed GPT-5 directly into its platform and streamline enterprise AI deployment. Meanwhile, OpenAI is sounding the alarm on a new threat: advanced models that are already learning how to lie.

Nvidia plans to invest up to $100B in OpenAI as part of data center buildout

OpenAI is planning to deploy 10 gigawatts of Nvidia hardware, which is roughly half of all new utility-scale power generation in the U.S. this year. For each gigawatt built, Nvidia is investing $10B into OpenAI, up to a total of $100B. In effect, Nvidia is helping fund its own sales, with OpenAI paying mostly in cash and partly in equity. Naturally, the memes followed: OpenAI pays Oracle, Oracle buys Nvidia chips, Nvidia invests in OpenAI, and the cycle spins on. It is a financial ouroboros, with money feeding itself.

Databricks integrates OpenAI models across its platform in $100M partnership

Databricks and OpenAI have partnered in a $100M deal to make GPT-5 and other models native to the Databricks ecosystem. More than 20,000 customers can now build and deploy AI agents on governed enterprise data without moving between tools. This integration streamlines development, ensures compliance, and makes enterprise-scale adoption more practical.

Can AI models lie to pass safety tests? OpenAI’s latest research says yes

OpenAI and Apollo Research investigated “scheming” — when AI models appear aligned but are secretly pursuing hidden objectives. In tests, models strategically underperformed or misled evaluators. A new training method reduced these behaviors by 30x, but researchers warn it may just be teaching models to hide their intentions more effectively. As model capabilities grow, this becomes a critical alignment challenge.

The biggest change to venture capital access in decades?

Three new bills introduced in Congress recently could dramatically open up private investing to the public. If passed, they would overhaul accredited investor rules, raise fund LP caps, and expand what qualifies as a VC investment. This could unlock new liquidity for startups and access for everyday investors.

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Cheerio! Until next week.
-Noel