The AI money map
Swipe or drag to move the map, and pinch on a trackpad to zoom. Hover a line to see the document behind it, click a line to keep it on screen, and click a company to show only its relationships. Line thickness is the size of the arrangement; a dashed line was stated or reported rather than filed.
Index
78 in a filing · 33 stated or reported
111 relationships
| From | To | Kind | Size | Source |
|---|---|---|---|---|
| OpenAI | Oracle | Customer | $638bn (Oracle TOTAL RPO, not OpenAI-specific) | 10-KIn a filing CNBC |
| OpenAI | Microsoft | Customer | $250bn incremental Azure purchase | 8-K exhibit 99.2In a filing Microsoft |
| OpenAI | Amazon | Customer | $38bn existing + $100bn expansion over 8 years | 10-QIn a filing CNBC |
| Alphabet | Marvell | Customer | $120bn implied ($500m x 240 tranches) | 8-KIn a filing CNBC |
| Marvell | Alphabet | Warrant | 240 tranches of $500m Qualifying Revenue = $120bn implied ceiling; purchases are discretionary | 8-KIn a filing CNBC |
| Nvidia | OpenAI | Lease or capacity | $105bn cap | 8-KIn a filing NVIDIA |
| Anthropic | Amazon | Customer | >$100bn over 10 years | 10-QIn a filing Anthropic |
| Nvidia | OpenAI | Investment | up to $100bn (letter of intent, later scaled back) | press releaseStated or reported |
| OpenAI | Oracle | Vendor financing | $75bn prepaid / customer-supplied hardware (customers UNNAMED) | 8-K Exhibit 99.1In a filing CNBC |
| Amazon | OpenAI | Investment | $50bn | 10-QIn a filing OpenAI |
| SoftBank | OpenAI | Investment | $40bn round at a $300bn post-money valuation, led by SoftBank | company announcementStated or reported |
| Anthropic | Microsoft | Customer | $30bn | company press releaseStated or reported |
| Nvidia | CoreWeave | Lease or capacity | $30bn of multi-year cloud commitments, providers not named | 10-QIn a filing NVIDIA |
| Nvidia | OpenAI | Investment | $27bn of total investment commitments, recipients not named | 10-QIn a filing NVIDIA |
| Meta | CoreWeave | Customer | Up to approximately $21.0bn through December 2032 | 10-QIn a filing CoreWeave |
| Alphabet | Anthropic | Vendor financing | $20bn remaining (was $30bn at 31 Mar) | 10-QIn a filing Bloomberg |
| Amazon | Anthropic | Vendor financing | $20bn facility, $15bn undrawn | 10-QIn a filing Anthropic |
| Meta | Oracle | Customer | About $20bn reported during negotiation; Oracle confirmed a deal but never the number | CNBCStated or reported |
| OpenAI | CoreWeave | Customer | $11.9bn through October 2030, plus $6.5bn through May 2031 | 10-QIn a filing CoreWeave |
| Microsoft | Nebius | Customer | $17.4bn through 2031, rising to about $19.4bn if options are taken | 6-KIn a filing Nebius |
| Microsoft | OpenAI | Investment | $13.0bn committed, $11.9bn funded | 10-KIn a filing CNBC |
| Alphabet | Marvell | Warrant | 58,970,907 shares at $206.58 ($12.2bn if exercised) | 8-KIn a filing CNBC |
| Nvidia | Anthropic | Investment | up to $10bn | 10-QIn a filing Anthropic |
| Meta | Alphabet | Customer | More than $10bn over six years for Google Cloud capacity | CNBCStated or reported |
| Microsoft | IREN | Customer | $9.7bn over five years for GB300 capacity | 8-K exhibitIn a filing IREN |
| Amazon | Anthropic | Investment | $8bn | 10-QIn a filing Anthropic |
| Fluidstack | TeraWulf | Lease or capacity | $6.7bn of contracted revenue over 360+ MW, up to $16bn with extensions | 8-K exhibitIn a filing TeraWulf |
| Nvidia | CoreWeave | Supply commitment | $6.3bn | 8-KIn a filing NVIDIA |
| Nvidia | CoreWeave | Customer | $6.3bn | 8-KIn a filing NVIDIA |
| SoftBank | Nvidia | Investment | Entire 32.1 million share stake sold for $5.83bn to fund the OpenAI bet | SoftBank earnings statement, via CNBCStated or reported |
| IREN | Nvidia | Supply commitment | $5.8bn of GB300 GPUs, bought through Dell | 8-K exhibitIn a filing NVIDIA |
| Microsoft | Anthropic | Investment | up to $5bn | company press releaseStated or reported |
| Nvidia | Intel | Investment | $5.0bn for 214,776,632 shares at $23.28 | 8-KIn a filing NVIDIA |
| SoftBank | Oracle | Investment | $4.3bn cash to Oracle for its Ampere interests; Oracle booked a $2.7bn gain | 10-KIn a filing CNBC |
| Fluidstack | Cipher Mining | Lease or capacity | About $3.8bn of contracted revenue across the partnership over ten years | 8-K exhibitIn a filing GlobeNewswire |
| Alphabet | TeraWulf | Vendor financing | $3.2bn backstop of Fluidstack's rent, supporting TeraWulf's project debt | 8-K exhibitIn a filing TeraWulf |
| Nvidia | CoreWeave | Investment | $2.0bn | 10-KIn a filing NVIDIA |
| Nvidia | Marvell | Investment | $2.0bn for 2,000,000 Series A preferred, convertible into up to 21,778,000 common shares | 8-KIn a filing NVIDIA |
| SoftBank | Intel | Investment | $2.0bn for 86,956,522 shares at $23.00 | 8-KIn a filing Intel |
| Nvidia | xAI | Investment | Up to $2bn of the equity in xAI's $20bn round, which closed at about a $230bn valuation | CNBCStated or reported |
| Microsoft | IREN | Vendor financing | 20 percent of the contract paid up front, about $1.9bn | 8-K exhibitIn a filing IREN |
| Alphabet | Cipher Mining | Vendor financing | $1.73bn backstop of Fluidstack's obligations | 8-K exhibitIn a filing Bloomberg |
| Microsoft | CoreWeave | Customer | $1.2bn (calendar 2024) | S-1/AIn a filing semafor.com |
| CoreWeave | OpenAI | Investment | $350m | 424B3In a filing CoreWeave |
| AMD | CoreWeave | Supply commitment | AMD CPUs used in CoreWeave clusters; no volume or dollar value disclosed | 10-KIn a filing CoreWeave |
| AMD | Microsoft | Supply commitment | semi-custom SoCs for Xbox Series S/X; no dollar value or volume disclosed | 10-KIn a filing AMD |
| AMD | OpenAI | Warrant | warrant for up to 160,000,000 AMD shares at $0.01 exercise price | 8-KIn a filing OpenAI |
| AMD | Oracle | Supply commitment | 50,000 Instinct MI450 GPUs from calendar Q3 2026; no dollar value disclosed | press releaseStated or reported |
| AMD | Oracle | Customer | undisclosed | FWP (Rule 163)In a filing AMD |
| Alphabet | Anthropic | Investment | not separable | 10-QIn a filing Bloomberg |
| Alphabet | Marvell | Supply commitment | custom silicon programs attached to the TPU ecosystem; no committed volume or value | 8-KIn a filing CNBC |
| Alphabet | Nvidia | Customer | undisclosed | 8-K exhibit (earnings release)In a filing forbes.com |
| Alphabet | Oracle | Revenue share | undisclosed | 10-KIn a filing Oracle |
| Amazon | Marvell | Supply commitment | five-year, multi-generational supply agreement; no dollar value disclosed | press release (8-K Ex-99.1)In a filing CNBC |
| Amazon | Nvidia | Supply commitment | >1 million GPUs, no dollar value | company blog (AWS)Stated or reported AWS |
| Amazon | Nvidia | Customer | undisclosed | 8-K exhibit (earnings release)In a filing Reuters |
| Amazon | Oracle | Revenue share | undisclosed | 10-KIn a filing Oracle |
| Anthropic | Alphabet | Customer | tens of billions; up to 1m TPUs | company press releaseStated or reported Bloomberg |
| Anthropic | Alphabet | Supply commitment | 5 GW next-gen TPU capacity | company press releaseStated or reported Bloomberg |
| Anthropic | Amazon | Supply commitment | up to 5 GW; Trainium2/3/4 | company press releaseStated or reported Anthropic |
| Anthropic | Nvidia | Supply commitment | up to 1 GW Grace Blackwell / Vera Rubin | company press releaseStated or reported Anthropic |
| CoreWeave | Nvidia | Customer | undisclosed | 10-QIn a filing CoreWeave |
| CoreWeave | Nvidia | Supply commitment | undisclosed | 10-QIn a filing CoreWeave |
| Marvell | Alphabet | Supply commitment | undisclosed | 8-KIn a filing CNBC |
| Marvell | Amazon | Warrant | warrant for up to 4,180,683 Marvell shares at $87.7706, vesting on AWS purchases to 5 Jan 2030 | 8-KIn a filing Marvell |
| Marvell | Amazon | Revenue share | customer warrants booked as a reduction to revenue; $227.6m and $55.4m grant-date fair value. 10-Q says only 'a customer'; identified as Amazon by matching share counts and strikes to the Dec 2024 and Dec 2025 8-Ks | 10-QIn a filing CNBC |
| Marvell | Amazon | Customer | Marvell buys AWS cloud capacity for EDA; no dollar value disclosed | press release (8-K Ex-99.1)In a filing datacenterdynamics.com |
| Marvell | Nvidia | Supply commitment | custom XPUs and NVLink Fusion scale-up networking; no dollar value disclosed | press releaseStated or reported NVIDIA |
| Microsoft | AMD | Customer | undisclosed | company press releaseStated or reported AMD |
| Microsoft | Nvidia | Supply commitment | undisclosed | company press releaseStated or reported |
| Microsoft | Nvidia | Customer | undisclosed | 8-K exhibit (earnings release)In a filing NVIDIA |
| Microsoft | OpenAI | Revenue share | terminated April 2026 | Microsoft company blogStated or reported Microsoft |
| Microsoft | Oracle | Customer | undisclosed | company press releaseStated or reported |
| Microsoft | Oracle | Revenue share | undisclosed | 10-KIn a filing Oracle |
| Nvidia | Amazon | Lease or capacity | undisclosed | 10-QIn a filing AWS |
| Nvidia | CoreWeave | Lease or capacity | undisclosed | 8-KIn a filing NVIDIA |
| Nvidia | Oracle | Customer | undisclosed | 8-K Exhibit 99.1In a filing NVIDIA |
| OpenAI | AMD | Supply commitment | binding commitment for initial 1 GW of MI450; intent to deploy up to 6 GW | 8-KIn a filing CNBC |
| OpenAI | CoreWeave | Vendor financing | undisclosed | 424B3In a filing CoreWeave |
| OpenAI | Microsoft | Revenue share | undisclosed, capped, runs to 2030 | company blogStated or reported CNBC |
| OpenAI | Nvidia | Supply commitment | undisclosed (10 GW) | press releaseStated or reported NVIDIA |
| Oracle | Alphabet | Supply commitment | 12 OCI datacenters, undisclosed | 8-K EX-99.1In a filing Oracle |
| Oracle | Nvidia | Customer | undisclosed | 8-K exhibit (earnings release)In a filing NVIDIA |
| Oracle | Nvidia | Supply commitment | undisclosed | 10-KIn a filing Reuters |
| Intel | CoreWeave | Supply commitment | Intel CPUs used in CoreWeave clusters; no volume or dollar value disclosed | 10-KIn a filing CoreWeave |
| Meta | AMD | Supply commitment | Up to 6 gigawatts of AMD GPUs; AMD discloses no dollar value | 10-QIn a filing Reuters |
| AMD | Meta | Warrant | Warrant over up to 160 million AMD shares at $0.01, vesting on GPU purchases | 10-QIn a filing AMD |
| Broadcom | OpenAI | Supply commitment | 10 gigawatts of OpenAI-designed accelerators; no dollar value disclosed | joint company press releaseStated or reported |
| OpenAI | Broadcom | Customer | OpenAI cash to Broadcom for racks and Ethernet; no figure given by either party | joint company press releaseStated or reported |
| xAI | Nvidia | Lease or capacity | GPUs bought by a special-purpose vehicle and leased to xAI | Tom's Hardware, citing BloombergStated or reported |
| Nvidia | OpenAI | Investment | Still unsigned: Nvidia's own 10-K says the agreement is not final | 10-KIn a filing NVIDIA |
| Nvidia | Intel | Supply commitment | Joint x86 product development, separate from the $5bn equity stake | 10-KIn a filing NVIDIA |
| Broadcom | Meta | Supply commitment | Multi-gigawatt MTIA rollout on 2nm; no dollar value disclosed | joint company press releaseStated or reported |
| Meta | Broadcom | Customer | Meta cash to Broadcom for MTIA silicon and networking; no figure given | joint company press releaseStated or reported |
| Broadcom | Alphabet | Supply commitment | Seven generations of co-designed TPUs since 2014 | Tom's HardwareStated or reported |
| Alphabet | Broadcom | Customer | Alphabet cash to Broadcom for TPU silicon; neither company files the figure | Tom's HardwareStated or reported |
| xAI | Oracle | Customer | OCI used to train and serve Grok; no contract value disclosed | Oracle announcementStated or reported |
| Oracle | xAI | Revenue share | Oracle resells Grok through its own generative AI service | Oracle announcementStated or reported |
| Nebius | Microsoft | Supply commitment | Dedicated GPU capacity delivered in tranches over a five-year term | 6-KIn a filing Nebius |
| CoreWeave | Core Scientific | Lease or capacity | About 590 MW of leased power capacity | 10-KIn a filing CoreWeave |
| CoreWeave | Core Scientific | Investment | All-stock takeover, rejected by Core Scientific's own shareholders | 10-KIn a filing CoreWeave |
| TeraWulf | Alphabet | Warrant | Warrants over 32.5m shares, taking Alphabet to about 14% of TeraWulf | 8-K exhibitIn a filing TeraWulf |
| Cipher Mining | Alphabet | Warrant | About a 5.4 percent equity stake to Alphabet for the backstop | 8-K exhibitIn a filing GlobeNewswire |
| SoftBank | Arm | Investment | About 86.4 percent of Arm, a controlled company | 20-FIn a filing CNBC |
| Arm | OpenAI | Supply commitment | Named a key initial technology partner for Stargate | company announcementStated or reported |
| TSMC | Nvidia | Supply commitment | Nvidia's wafers, named as its foundry | 10-KIn a filing Reuters |
| TSMC | AMD | Supply commitment | Wafers for AMD's HPC, FPGA and adaptive SoC products | 10-KIn a filing Tom's Hardware |
| TSMC | Broadcom | Supply commitment | The majority of Broadcom's front-end wafer manufacturing | 10-KIn a filing Reuters |
| Anthropic | CoreWeave | Customer | Multi-year compute agreement; no value disclosed | company announcementStated or reported |
| Nvidia | Nebius | Supply commitment | Named chip partner; among the first to deploy each new GPU generation | 20-FIn a filing NVIDIA |
| Microsoft | xAI | Revenue share | Grok sold through Azure AI Foundry; no terms disclosed | Microsoft Azure blogStated or reported |
Company by company
Every company on the map, and what it is doing with the others. Counted from the 111 relationships above, so it says the same thing the drawing does.
OpenAI
OpenAI appears in 22 relationships on this map, with Oracle, Microsoft, Amazon, Nvidia, SoftBank, CoreWeave, AMD, Broadcom, Arm. 14 of them are disclosed in an SEC filing. The largest are $638bn to Oracle (customer), $250bn to Microsoft (customer), $138bn to Amazon (customer), $105bn from Nvidia (lease or capacity).
Arm
Arm appears in 2 relationships on this map, with SoftBank, OpenAI. 1 of them is disclosed in an SEC filing. The largest are an undisclosed sum from SoftBank (investment), an undisclosed sum to OpenAI (supply commitment).
SoftBank
SoftBank appears in 5 relationships on this map, with OpenAI, Nvidia, Oracle, Intel, Arm. 3 of them are disclosed in an SEC filing. The largest are $40bn to OpenAI (investment), $5.83bn to Nvidia (investment), $4.3bn to Oracle (investment), $2bn to Intel (investment).
Microsoft
Microsoft appears in 18 relationships on this map, with OpenAI, Anthropic, Nebius, IREN, CoreWeave, AMD, Nvidia, Oracle, xAI. 10 of them are disclosed in an SEC filing. The largest are $250bn from OpenAI (customer), $30bn from Anthropic (customer), $17.4bn to Nebius (customer), $13bn to OpenAI (investment).
CoreWeave
CoreWeave appears in 17 relationships on this map, with Nvidia, Meta, OpenAI, Microsoft, AMD, Intel, Core Scientific, Anthropic. 16 of them are disclosed in an SEC filing. The largest are $30bn from Nvidia (lease or capacity), $21bn from Meta (customer), $18.4bn from OpenAI (customer), $6.3bn from Nvidia (supply commitment).
Oracle
Oracle appears in 16 relationships on this map, with OpenAI, Meta, SoftBank, AMD, Alphabet, Amazon, Microsoft, Nvidia, xAI. 11 of them are disclosed in an SEC filing. The largest are $638bn from OpenAI (customer), $75bn from OpenAI (vendor financing), $20bn from Meta (customer), $4.3bn from SoftBank (investment).
Nebius
Nebius appears in 3 relationships on this map, with Microsoft, Nvidia. 3 of them are disclosed in an SEC filing. The largest are $17.4bn from Microsoft (customer), an undisclosed sum to Microsoft (supply commitment), an undisclosed sum from Nvidia (supply commitment).
IREN
IREN appears in 3 relationships on this map, with Microsoft, Nvidia. 3 of them are disclosed in an SEC filing. The largest are $9.7bn from Microsoft (customer), $5.8bn to Nvidia (supply commitment), $1.94bn from Microsoft (vendor financing).
Core Scientific
Core Scientific appears in 2 relationships on this map, with CoreWeave. 2 of them are disclosed in an SEC filing. The largest are an undisclosed sum from CoreWeave (lease or capacity), an undisclosed sum from CoreWeave (investment).
xAI
xAI appears in 5 relationships on this map, with Nvidia, Oracle, Microsoft. None of them appears in an SEC filing. The largest are $2bn from Nvidia (investment), an undisclosed sum to Nvidia (lease or capacity), an undisclosed sum to Oracle (customer), an undisclosed sum from Oracle (revenue share).
Nvidia
Nvidia appears in 33 relationships on this map, with OpenAI, CoreWeave, Anthropic, SoftBank, IREN, Intel, Marvell, xAI, Alphabet, Amazon, Microsoft, Oracle, TSMC, Nebius. 24 of them are disclosed in an SEC filing. The largest are $105bn to OpenAI (lease or capacity), $100bn to OpenAI (investment), $30bn to CoreWeave (lease or capacity), $27bn to OpenAI (investment).
TSMC
TSMC appears in 3 relationships on this map, with Nvidia, AMD, Broadcom. 3 of them are disclosed in an SEC filing. The largest are an undisclosed sum to Nvidia (supply commitment), an undisclosed sum to AMD (supply commitment), an undisclosed sum to Broadcom (supply commitment).
Intel
Intel appears in 4 relationships on this map, with Nvidia, SoftBank, CoreWeave. 4 of them are disclosed in an SEC filing. The largest are $5bn from Nvidia (investment), $2bn from SoftBank (investment), an undisclosed sum to CoreWeave (supply commitment), an undisclosed sum from Nvidia (supply commitment).
AMD
AMD appears in 10 relationships on this map, with CoreWeave, Microsoft, OpenAI, Oracle, Meta, TSMC. 8 of them are disclosed in an SEC filing. The largest are an undisclosed sum to CoreWeave (supply commitment), an undisclosed sum to Microsoft (supply commitment), an undisclosed sum to OpenAI (warrant), an undisclosed sum to Oracle (supply commitment).
Broadcom
Broadcom appears in 7 relationships on this map, with OpenAI, Meta, Alphabet, TSMC. 1 of them is disclosed in an SEC filing. The largest are an undisclosed sum to OpenAI (supply commitment), an undisclosed sum from OpenAI (customer), an undisclosed sum to Meta (supply commitment), an undisclosed sum from Meta (customer).
Marvell
Marvell appears in 11 relationships on this map, with Alphabet, Nvidia, Amazon. 10 of them are disclosed in an SEC filing. The largest are $120bn from Alphabet (customer), $120bn to Alphabet (warrant), $12.18bn from Alphabet (warrant), $2bn from Nvidia (investment).
Cipher Mining
Cipher Mining appears in 3 relationships on this map, with Fluidstack, Alphabet. 3 of them are disclosed in an SEC filing. The largest are $3.8bn from Fluidstack (lease or capacity), $1.73bn from Alphabet (vendor financing), an undisclosed sum to Alphabet (warrant).
TeraWulf
TeraWulf appears in 3 relationships on this map, with Fluidstack, Alphabet. 3 of them are disclosed in an SEC filing. The largest are $6.7bn from Fluidstack (lease or capacity), $3.2bn from Alphabet (vendor financing), an undisclosed sum to Alphabet (warrant).
Fluidstack
Fluidstack appears in 2 relationships on this map, with TeraWulf, Cipher Mining. 2 of them are disclosed in an SEC filing. The largest are $6.7bn to TeraWulf (lease or capacity), $3.8bn to Cipher Mining (lease or capacity).
Alphabet
Alphabet appears in 19 relationships on this map, with Marvell, Anthropic, Meta, TeraWulf, Cipher Mining, Nvidia, Oracle, Broadcom. 14 of them are disclosed in an SEC filing. The largest are $120bn to Marvell (customer), $120bn from Marvell (warrant), $20bn to Anthropic (vendor financing), $12.18bn to Marvell (warrant).
Meta
Meta appears in 7 relationships on this map, with CoreWeave, Oracle, Alphabet, AMD, Broadcom. 3 of them are disclosed in an SEC filing. The largest are $21bn to CoreWeave (customer), $20bn to Oracle (customer), $10bn to Alphabet (customer), an undisclosed sum to AMD (supply commitment).
Amazon
Amazon appears in 14 relationships on this map, with OpenAI, Anthropic, Marvell, Nvidia, Oracle. 12 of them are disclosed in an SEC filing. The largest are $138bn from OpenAI (customer), $100bn from Anthropic (customer), $50bn to OpenAI (investment), $20bn to Anthropic (vendor financing).
Anthropic
Anthropic appears in 13 relationships on this map, with Amazon, Microsoft, Alphabet, Nvidia, CoreWeave. 6 of them are disclosed in an SEC filing. The largest are $100bn to Amazon (customer), $30bn to Microsoft (customer), $20bn from Alphabet (vendor financing), $20bn from Amazon (vendor financing).
Every figure here is drawn from the index above, where each line carries its filing and a report of the same deal. Corrections reach the publication by email.