OpenAI and Oracle have reportedly scrapped plans to expand their Stargate datacenter in Abilene, Texas from 1.2 gigawatts to 2 gigawatts, citing financing difficulties and OpenAI's inability to forecast demand. Nvidia has since put down a $150 million deposit on the unused capacity and is brokering a deal to bring Meta in as a tenant. The broader $300 billion Oracle-OpenAI compute contract remains on track, and Oracle is raising $50 billion in debt and equity to fund its datacenter ambitions. Meanwhile, Meta is aggressively pursuing GPU capacity with up to $135 billion in planned capex for 2026.
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