OpenAI's data center partners are accumulating nearly $100 billion in loans related to this loss-making startup, while OpenAI itself benefits without bearing financial risks, enjoying a debt-driven spending spree.

According to analysis by the Financial Times, companies such as SoftBank, Oracle (ORCL.N), and CoreWeave have lent at least $30 billion to invest in this startup or help build its data centers. Investment groups like Blue Owl Capital and computing infrastructure companies like Crusoe also rely on deals with OpenAI to repay about $28 billion in loans.

Insiders reveal that a banking group is negotiating to provide an additional $38 billion in loans to Oracle and data center builder Vantage to build more sites for OpenAI. The deal is expected to be finalized in the coming weeks. (Jin10)