OpenAI Nears $100 Billion Funding Round. Why These AI Stocks Could Get A Lift.

• OpenAI has granted an estimated $1 trillion in revenue commitments to AI chip and data center capacity providers, prompting companies like Oracle and CoreWeave to borrow heavily to fund infrastructure build-outs
• AI stocks have underperformed in 2026: Microsoft down 17%, Oracle down 19%, CoreWeave up 32% but well below its June 2024 high, while Nvidia remains roughly flat for the year
• Rival Anthropic recently raised $30 billion at a $380 billion valuation, while speculation suggests OpenAI could pursue an IPO in 2026 or 2027 to raise additional capital

Summary

Key Development:

OpenAI is finalizing a funding round exceeding $100 billion at an $830 billion valuation. Expected investors include Amazon, SoftBank, Nvidia, and potentially Microsoft, with additional support from Middle East sovereign wealth funds. The deal could provide OpenAI with up to $140 billion in total resources ($40 billion existing cash plus $100 billion raised).

Strategic Rationale:

OpenAI management has indicated growth constraints due to limited computing capacity. The capital injection aims to create a multi-year runway for scaling usage and maintaining ChatGPT's consumer lead over Google's Gemini. The company has granted approximately $1 trillion in revenue commitments to AI chip and data center providers.

Market Implications:

Analyst Gil Luria from D.A. Davidson suggests this funding could trigger significant re-rating for AI stocks in OpenAI's ecosystem, particularly Nvidia, Microsoft, CoreWeave, and Oracle. These companies have borrowed heavily to fund data center build-outs based on OpenAI's capacity purchase commitments, and concerns about OpenAI's ability to meet these obligations have pressured stocks since late 2025.

Stock Performance (2026 YTD):

• CoreWeave: +32% (down significantly from June 2025 high of 187)
• Nvidia: roughly flat
• Google: -3%
• Microsoft: -17%
• Oracle: -19%

Competitive Landscape:

Rival Anthropic recently raised $30 billion at a $380 billion valuation from investors including Singapore's GIC and MGX. Speculation suggests OpenAI may pursue an IPO in 2026 or 2027 for additional capital.