OpenAI then attempted to build its own data centers but failed to secure financing, as lenders were unwilling to back multi-billion-dollar projects from a company with an unproven business model and heavy losses. Only afterward did OpenAI return to its Stargate partners, Oracle and SoftBank, though the cooperation now proceeds on a bilateral basis rather than as a three-party consortium.

At the end of July, Oracle and OpenAI officially announced a deal covering 4.5 gigawatts of capacity across multiple U.S. sites. According to The Information, the two companies share part of the economic risk: both absorb cost overruns and delays, while savings are also shared. OpenAI is now prioritizing cloud partnerships over owning its own data centers. CFO Sarah Friar said at the World Economic Forum in Davos that the strategy is intended to protect OpenAI’s balance sheet. All three companies declined to comment. OpenAI’s separate 10-gigawatt deal with Nvidia, announced in September 2025, is also reportedly not progressing as planned.

Despite early setbacks, Stargate data centers are beginning to take shape. In October, construction started on a 1-gigawatt campus in Milam County, Texas. Under a compromise with SoftBank, OpenAI will sign the long-term lease and control the facility’s design, while SoftBank Energy develops and owns the project.