OpenAI’s long term compute bill raises investor questions
HSBC analysts say OpenAI could require as much as 207 billion dollars in new funding by 2030 as the company scales up its infrastructure to meet demand for advanced AI models. The estimate reflects the firm’s updated cloud commitments, including a 250 billion dollar agreement with Microsoft and a 38 billion dollar deal with Amazon to rent compute power over a seven year period.
The projections stand in sharp contrast to OpenAI’s expected 12.5 billion dollars in revenue for 2025. HSBC says the gap underscores the financial pressure tied to an anticipated 1.4 trillion dollar compute bill across eight years. Analysts warn that this mismatch could concern investors, even if the broader “AI megacycle” remains intact.
Anthropic scales up with multibillion dollar chip and cloud deals
OpenAI is not the only model developer accelerating its infrastructure push. Rival Anthropic has announced major commitments backed by Amazon and Alphabet. The company agreed to purchase one million AI chips from Alphabet in a deal worth tens of billions, committed to a 50 billion dollar buildout of its computing stack, and secured a 30 billion dollar capacity agreement with Microsoft and Nvidia.
These moves add to the surge in demand for high performance AI hardware as companies prepare for increasingly complex models and larger training cycles. HSBC notes that the rapid expansion across the sector points to growing confidence in the commercial impact of generative AI.
Partnerships drive adoption despite cost concerns
Despite the heavy spending, HSBC says strong alliances between model developers, cloud providers and chipmakers are helping reduce bottlenecks and bring AI tools into real world use faster. The partnerships also help companies secure scarce computing resources at a time when availability of advanced chips remains tight.
The firm’s analysts maintain that these collaborations form the backbone of the current AI growth phase, even as the scale of investment required raises new questions for investors and regulators. For now, OpenAI, Anthropic and their partners appear committed to building out the infrastructure needed to support the next generation of AI systems.
