OpenAI Fails to Secure $18 Billion Financing for Custom Chip Project

According to The Information, OpenAI recently failed to secure approximately $18 billion in external financing intended to support early deployment of custom chips developed in collaboration with Broadcom. The project aims to deploy 10 gigawatts of OpenAI-designed chip capacity, a core strategy to reduce reliance on Nvidia.

Lenders have grown cautious about AI infrastructure deals backed by OpenAI's projected revenue, with recent reports of the company missing internal growth targets adding to investor concerns. Separately, Nvidia's accounts receivable have reached nearly $33 billion, signaling extended payment cycles across the industry amid an estimated $600–720 billion in AI capital expenditures across hyperscalers in 2026.