OpenAI aims for $665B compute by 2030 as BofA gauges impact

OpenAI targets ~$600-$665 billion compute spend by 2030, says Bank of America

OpenAI’s long-term plan points to approximately $600–$665 billion in cumulative compute spend by 2030, alongside an estimated $283 billion in revenue, according to Investing.com. The report also indicates potential advertising revenue of $45–$75 billion by 2030 and notes a partner-led compute build approach that could expand opportunities for cloud infrastructure providers.

This revised ambition is materially lower than earlier figures circulated to investors. Futurism reported OpenAI is now targeting around $600 billion in total compute spend, under half of a previously floated $1.4 trillion plan.

Why this matters for AI infrastructure and stocks

If realized, OpenAI’s multi-hundred-billion-dollar compute outlay would reinforce demand for high-performance accelerators, networking, and advanced packaging. That dynamic tends to support semiconductor supply chains, while funneling workload growth to hyperscale cloud platforms.

For equities, the key question is how much of this spend converts into incremental orders versus replacement cycles already embedded in expectations. Valuation sensitivity remains high if efficiency gains, regulatory constraints, or slower monetization dilute the trajectory.

in the near term, the Bank of America report implies a constructive demand signal for GPU suppliers, large cloud providers, and the data-center ecosystem. Execution risk persists around supply availability, interconnect bottlenecks, and energy procurement.

At the time of this writing, Nvidia Corporation traded around $190.10, up roughly 0.14% intraday, based on data from Yahoo Finance. market levels do not represent recommendations or forecasts and may change.

Risks, financing, and capex sustainability: what to watch

Debt, margin pressure, and ‘circular revenue’ considerations

Citi expects Big Tech’s AI infrastructure outlays to rise further and has flagged greater reliance on borrowing for capex, which increases financial risk in adverse rate or macro environments. That funding mix could compress margins if monetization lags compute scale-up.

Some analysts warn that spending growth may not be linear. After noting strong momentum, Goldman Sachs cautioned that “AI capex growth may begin to taper off in late 2025 or into 2026.” The same firm has also raised “circular revenue” concerns, where strategic investments and pre-arranged consumption can make recognized sales look stronger than underlying, arm’s‑length demand.

Timeline to 2030: spend ramp and profitability expectations

BofA’s figures sketch an aggressive ramp through 2030, but timelines vary by institution. JPMorgan projects OpenAI’s profitability likely arrives no earlier than 2029 and sees 2030 revenue nearer $174 billion than higher-end scenarios.

Across scenarios, spend intensity appears front‑loaded relative to monetization, implying a period of constrained margins as infrastructure scales. Outcomes will depend on inference efficiency, regulatory developments, and power availability.

FAQ about OpenAI $665 billion compute spend

Which AI-related stocks could benefit most from OpenAI’s $665B compute target?

Semiconductor vendors such as Nvidia, hyperscale cloud providers, and data‑center power and infrastructure operators could gain if spending converts into incremental orders and capacity buildouts.

How do other banks (JPMorgan, Citi, Goldman Sachs) view the sustainability of this AI capex cycle?

JPMorgan highlights delayed profitability, Citi flags debt-funded spending risk, and Goldman Sachs warns of 2025–2026 capex taper and potential “circular revenue” effects.