The success or failure of OpenAI's financing will determine the fate of the entire data center industry

OpenAI's ability to successfully raise large-scale funding is becoming a key variable for the future direction of the data center sector. On December 19, Wall Street Journal mentioned that OpenAI is planning to raise up to $100 billion in a new round of financing, which is currently in the early stages. If OpenAI can successfully raise the full target amount, its company valuation could reach as high as $830 billion. CNBC's Jim Cramer suggested on Friday that OpenAI should "strike while the iron is hot" and raise $200 billion at a trillion-dollar valuation. He stated that this funding would enable the company to cover the costs required for Oracle's current data center construction. If this goal is achieved, other hyperscale computing companies will have to continue investing in infrastructure for data center stocks to "take off." Although AI stocks rebounded on Friday, with the Nasdaq rising 1.31%, the sector has been under pressure in recent months. $300 Billion Commitment Raises Market Concerns OpenAI's partnership with Oracle has attracted significant market attention. The ChatGPT developer has committed to paying Oracle over $300 billion for data center construction. Cramer pointed out that Oracle issued $18 billion in bonds in September to support this partnership, marking one of the largest debt issuances in the history of the tech industry. Following this bond issuance, investors raised doubts about OpenAI's payment capabilities, putting pressure on the data center sector. On Friday, Cramer was quite optimistic about OpenAI's ability to raise funds. However, he went on to say that the company is "arrogant" and suggested that now might be a "humbling moment" for the company, or it could "prove their arrogance is justified." Cramer proposed that even if OpenAI raises funds in stages, such as raising $100 billion through private placements now and another $100 billion through public offerings next year, the data center theme could still remain vibrant. But if OpenAI fails to raise sufficient funds, the market will reverse. Cramer warned that "the entire data center industry will fall into a slump and continue." Funding Scale and Timeline On the 19th, The Wall Street Journal reported that OpenAI plans to complete its latest round of financing as early as the end of the first quarter of next year. SoftBank Group has agreed to invest $30 billion in OpenAI. To fund this investment, SoftBank sold $5.8 billion worth of Nvidia shares last month. It is expected that by the end of this year, OpenAI will receive the remaining $22.5 billion of planned financing from SoftBank. Additionally, OpenAI has completed a series of transactions by the end of the year, including content licensing agreements and a $1 billion investment from Disney. According to media reports citing informed sources, considering the scale of financing, OpenAI is expected to recruit sovereign wealth funds to participate in the investment, having previously received funding support from the UAE investment company MGX It is estimated that OpenAI will consume over $200 billion in cash by 2030