Good morning. Here's what happened overnight and what you need to know today.
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Compute muscle: Nvidia plans to invest up to USD100 billion ($151.6 billion) in OpenAI to build AI data centres powered by its chips, the companies said. The two have signed a letter of intent for a strategic partnership to deploy at least 10 gigawatts of Nvidia systems, with the first phase due online in the second half of 2026 using next-generation Vera Rubin systems. The deal deepens ties between two key players in the AI sector, as Nvidia chip demand grows and OpenAI’s ChatGPT reaches around 700 million weekly users. The investment complements OpenAI’s infrastructure work with Microsoft, Oracle, SoftBank and others on the USD500 billion Stargate project. Nvidia CEO Jensen Huang told CNBC the project equals 4 to 5 million GPUs, or about what Nvidia will ship this year and double last year’s output. He described the investment as a leap toward the next era of intelligence. (Capital Brief)(Joint release)(FT)(Bloomberg)
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Left out: Anthony Albanese was left off Donald Trump’s list of bilateral meetings at the UN General Assembly in New York, with White House Press Secretary Karoline Leavitt listing several bilateral meetings that did not include Australia. The US President will instead hold talks with leaders from the UN, Ukraine, Argentina, the European Union, among others. Both leaders will attend a reception for more than 100 world figures on Tuesday night, where an unofficial encounter may occur. Leavitt said Trump’s UN address would be “a major speech touting renewal of American strength” and how “globalist institutions have significantly decayed the world order”. She added Trump disagreed with Australia, France, the UK, Canada and Portugal recognising a Palestinian state. Albanese will defend the recognition in his own UN speech, saying “in recognising Palestine, Australia recognises the legitimate and long-held aspirations of the Palestinian people” for “a place they can call home”, likening this to the Jewish people’s hope for Israel. Israeli Prime Minister Benjamin Netanyahu has vowed “there will be no Palestinian state to the west of the Jordan River” and described recognition as “a huge reward to terrorism”. (White House)(Capital Brief)(ABC News)(The Australian)
