OpenAI 正洽谈从亚马逊筹集至少 100 亿美元并使用其 AI 芯片

OpenAI in Talks to Raise At Least $10 Billion From Amazonand Use Its AI Chips OpenAI正洽谈从亚⻢逊筹集⾄少100亿美元并使⽤其AI芯⽚ By作者：安妮莎·加德兹,，斯⾥·穆⽪迪,，科⾥·温伯格and和阿⽶尔·埃弗拉蒂Anissa GardizySri MuppidiCory WeinbergAmir Efrati Dec16,2025,6:19pm PST微信公众号 404K Amazon is intalks to invest $10 billion or more in OpenAI, according to three people familiar with the discussions. Thevaluation would be higher than $500 billion, one of the people said. 据三位知情⼈⼠透露，亚马逊正在商讨投资100亿美元或更多资⾦于OpenAI。其中⼀⼈表⽰，这笔交易将使OpenAI的估值超过5000亿美元。 TheAmazoninvestment would helpOpenAIafford some of the commitments it has made to rent servers fromcloud providers, including from Amazon Web Services. OpenAI last month announced it would spend $38 billionrenting servers from AWS over the next seven years, making AWS one of at leastfive cloud providers OpenAI uses todevelop its artificial intelligence. 亚马逊的投资将帮助OpenAI负担向包括亚马逊云服务（AWS）在内的云服务提供商租赁服务器的⼀些承诺。OpenAI上⽉宣布，将在未来七年内投⼊380亿美元从AWS租⽤服务器，使AWS成为OpenAI⽤于开发其⼈⼯智能的⾄少五家云提供商之⼀。 The deal could also help Amazonfind a new customer for its Trainium AI server chips, which compete with the NvidiaAI chips that OpenAI primarily uses today. As part of the deal being discussed, OpenAI plans to use Trainium chips, twoof the people said. 这笔交易还可能帮助亚马逊为其Trainium AI服务器芯⽚找到新客户。该芯⽚与OpenAI⽬前主要使⽤的英伟达AI芯⽚形成竞争。据两位知情⼈⼠透露，作为正在讨论的交易的⼀部分，OpenAI计划使⽤Trainium芯⽚。 Amazon, however, won’t be able to sell OpenAI models to its cloud customers, as Microsoft, which owns about 27% ofOpenAI equity, has secured an exclusive right to do so.微信公众号 404K微信公众号 404K 然⽽，亚马逊将⽆法向⾃⼰的云客户销售OpenAI的模型，因为持有OpenAI约27%股权的微软已获得独家销售权。 Amazon and OpenAI have discussed commerce partnership opportunities, one of the people said. OpenAI wants to turnChatGPT into a shopping hub and has discussed earning fees for referring customers to retailers. It isn’t clear whetherthe Amazon-OpenAI deal would involve any arrangement related to such features in ChatGPT or AI-powered shoppingfeatures that Amazon is developing for its own apps. 其中⼀位知情⼈⼠表⽰，亚马逊和OpenAI已探讨过商业合作机会。OpenAI希望将ChatGPT打造成购物中⼼，并已讨论过向零售商推荐客户以赚取佣⾦。⽬前尚不清楚亚马逊与OpenAI的交易是否会涉及ChatGPT的此类功能，或亚马逊正在为⾃⼰应⽤程序开发的⼈⼯智能购物功能。 OpenAI also wants to sell an enterprise version of ChatGPT to Amazon, the person said. 据该消息⼈⼠透露，OpenAI还希望向亚马逊销售企业版ChatGPT。 The talks are ongoing and the terms could change, two of the people said. The Amazonfinancing could prompt abroader fundraising with more investors, according to one of the people. 其中两位知情⼈⼠表⽰，谈判仍在进⾏中，条款可能发⽣变化。另⼀位知情⼈⼠称，亚马逊的融资可能会促使OpenAI开展更⼴泛的融资活动，吸引更多投资者参与。 The conversations with Amazon kicked offaround October after OpenAI completed its corporate restructuring, whichconverted its equity to traditional stock and would allow the company to eventually go public, this person said. 这位知情⼈⼠称，与亚马逊的对话始于10⽉左右，当时OpenAI刚刚完成公司重组，将其股权转换为传统股票，这将使该公司最终能够公开上市。 A deal would make Amazon one of several large technologyfirms, including Nvidia, to announce an investment in theChatGPT maker, which has raised more than $45 billion in equityfinancing and was recently valued at $500 billion in aprivate share sale. 如果达成协议，亚马逊将成为继英伟达之后，又⼀家投资ChatGPT开发商的⼤型科技公司。OpenAI已通过股权融资筹集了超过450亿美元，最近在私下股票交易中的估值达到5000亿美元。 OpenAI still needs more cash, as ithas projected it will burn more than $100 billion over the next four yearsas it spendsmoney on servers and talent to develop and run its AI. OpenAI in the summer had told some investors it planned toraise about $90 billion in 2027. That could theoretically include an initial public offering. OpenAI仍需更多资⾦，因其预计未来四年将耗资超过1000亿美元，⽤于购买服务器及聘请⼈才以开发并运营其⼈⼯智能。今年夏天，OpenAI曾告知部分投资者，计划于2027年筹集约900亿美元，理论上这可能包括⾸次公开募股。 Try askingDeep Research to… 尝试向深度研究提出请求... How does Broadcom factor into the AI chip race with Nvidia, AMD and others? 博通如何在与英伟达、AMD等公司的AI芯⽚竞争中占据⼀席之地？ View Response查看回应微信公众号 404K The spending commitments have been piling up. OpenAI earlier this year committed to spending hundreds of billions ofdollars on servers from both Microsoft and Oracle. It also struck deals to rent servers from Google, a major rival indeveloping AI, and AI cloud provider CoreWeave. And OpenAI has said it would spend billions of dollars developing itsown data centers, and that it would possibly rent out servers to other companies too. 运营开⽀承诺仍在不断累积。今年早些时候，OpenAI承诺将在微软和甲⾻⽂的服务器上投⼊数千亿美元。同时，该公司还与AI开发领域的主要竞争对⼿⾕歌及AI云服务提供商CoreWeave达成服务器租⽤协议。OpenAI还表⽰将斥资数⼗亿美元建设⾃有数据中⼼，并可能向其他企业出租服务器。 As it develops its own facilities, OpenAI is also developing its own AI server chips with Broadcom, primarily to runservices such as ChatGPT rather than to train new models the way it does with Nvidia chips. It isn’t clear how muchmoney OpenAI plans to spend on those chips. OpenAI has also agreed to use chips from another Nvidia rival, AdvancedMicro Devices. 在建设⾃有设施的同时，OpenAI正与博通公司合作开发专⽤AI服务器芯⽚，主要⽤于运⾏ChatGPT等服务，⽽⾮像使⽤英伟达芯⽚那样⽤于训练新模型。⽬前尚不清楚OpenAI计划为这些芯⽚投⼊多少资⾦。该公司还已同意采⽤英伟达另⼀竞争对⼿超威半导体公司⽣产的芯⽚。 Nvidia, already a shareholder of OpenAI, recently said it could invest up to $100 billion in the company, starting with a$10 billion tranche tied to a