AI’s $1T compute precommitment risk

OpenAI has reportedly signed about $1 trillion in compute contracts—roughly 20 GW of capacity over a decade at an estimated $50 billion per GW. These obligations dwarf its revenues and effectively tie chipmakers and cloud vendors’ plans to OpenAI’s ability to monetize ChatGPT‑scale services. — Such outsized, long‑dated liabilities concentrate financial and energy risk and could reshape capital markets, antitrust, and grid policy if AI demand or cashflows disappoint.