Recharge the belief in AI once again! OpenAI has raised a staggering $110 billion, the AI arms race of burning money shows no signs of stopping.

The developer of the globally popular ChatGPT, the global leader in AI applications OpenAI, has completed a massive financing deal worth up to $110 billion, with the valuation of this AI unicorn reaching an astonishing $730 billion. This is the largest funding round to date for this ChatGPT developer, providing significant support for its high-cost investments in acquiring larger-scale AI computing resources and top global talent to advance artificial intelligence development. This large-scale fundraising related to AI compute spending is closely associated with supporting the "AI belief" driving the super bull market in US stocks, as global investors in recent years have become increasingly enthusiastic about the "artificial intelligence investment theme," playing a central and powerful bullish role in the market. OpenAI announced on Friday that US e-commerce and cloud computing leader Amazon.com, Inc. invested $50 billion in this funding round, the largest investment this e-commerce and cloud computing giant has made in any company to date. The company also stated that SoftBank Group and "AI chip superpower" NVIDIA Corporation each invested $30 billion. It is worth noting that the new valuation of $730 billion does not include the funds raised in this round. After the financing is completed, its valuation has now reached about $840 billion. OpenAI finalized the $110 billion financing and the valuation of up to $730 billion before financing, with Amazon.com, Inc., SoftBank, and NVIDIA Corporation collectively pouring substantial support into OpenAI's ambitions in artificial intelligence; meanwhile, the market continues to engage in trading around the theme of "massive spending for AI compute power." Is the cyclical trading pattern of the Internet bubble era returning? OpenAI and its most powerful competitor, Anthropic PBC, which has recently caused global software stock valuations to collapse, have accelerated their financing pace this year to support their high-cost bets on top AI talent, AI chips, and AI data center infrastructure, in order to support the rapid development of their artificial intelligence applications. These two AI startups are increasingly engaging with a group of overlapping venture capital funds and large technology investment institutions. For example, the significant investment from Amazon.com, Inc. - Amazon.com, Inc. has long been a strong supporter of Anthropic and has further deepened its relationship with OpenAI. As part of the agreement, OpenAI will use Amazon.com, Inc.'s in-house AI ASIC computing infrastructure series, Trainium, and collaborate with Amazon.com, Inc. to develop customized AI models for the giant's own AI engineering team. OpenAI will also invest an additional $100 billion in Amazon.com, Inc.'s cloud computing services (AWS) over the next eight years, signifying a substantial upgrade from a previous agreement last year. In November of last year, the two companies announced a significant agreement, through which this modeling developer would use approximately $38 billion in AWS services over seven years. OpenAI CEO Sam Altman said in a media interview on Friday, "Amazon.com, Inc. brings a lot to us in terms of new demand and market opportunities." Amazon.com, Inc. CEO Andy Jassy also stated that this large-scale transaction "will bring good returns and profits to Amazon.com, Inc. for a long time." Another US tech giant, Microsoft Corporation, has long been one of the largest backers of OpenAI in terms of cloud computing, AI compute infrastructure, and investment funding support, and has been its exclusive cloud AI compute infrastructure partner. Microsoft Corporation stated that its relationship with the developer remains strong. The two companies said in a joint statement on Friday, "Today's statements will not change the terms of the long-term partnership between Microsoft Corporation and OpenAI." Anthropic raised around $30 billion in a funding round earlier this month, with investors including NVIDIA Corporation and Microsoft Corporation. This funding round implies a valuation of $380 billion for Anthropic, including the massive funds raised in this round. AI Belief vs. AI Bubble These funding commitments mark the latest instance of "cyclical financing transactions" between leading AI startups and chip and cloud computing vendors. These partnerships aim to ensure that these top AI developers globally can meet their immense AI compute infrastructure needs, but the risk lies in the fact that if actual AI compute demands fail to meet current high expectations, these transactions could amplify losses and lead to a complete collapse of the "AI bubble," thereby triggering a global stock market crash. Altman downplayed the risks of such arrangements in a recent interview with the media. Altman said, "I understand where these concerns come from. It only makes sense when there are new revenue streams flowing into the entire AI ecosystem." He emphasized that most of his efforts are focused on obtaining larger AI compute infrastructure to meet the immense demands of ChatGPT and other AI application products from OpenAI. For the US stock market, which has repeatedly set historical highs and entered a new long-term bull market trajectory, as well as for the MSCI Global Stock Market Benchmark Stock Index, global investors have been playing a central and powerful bullish role in the market with their increasingly enthusiastic "AI belief" surrounding the "artificial intelligence investment theme," it can be said that as long as this wave of "AI belief" continues to be hot and continues to sweep the global stock market, the bull market in US stocks and even the global stock market will continue to stage an incredibly strong bull market rally. The S&P 500 Index has accumulated around $30 trillion in the past three years in this "super bull market," largely driven by the world's largest technology giants (the seven major tech giants in the US), and this momentum is also driven to a large extent by chip companies (such as Micron, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR, and Broadcom Inc., among others), the three storage giants (SanDisk, Western Digital Corporation, and Seagate), as well as power system suppliers (such as Constellation Energy). A recent research report from Bank of America Corp shows that the global AI arms race is still in the "early to mid-stage"; Vanguard, one of the world's largest asset management giants, recently pointed out in a research report that the AI investment cycle may only have reached 30%-40% of its final peak, however, the asset management giant has also stated that the risk of a large tech stock pullback is indeed increasing. In the eyes of Wall Street giants such as Morgan Stanley, Citigroup, Loop Capital, and Wedbush, the global AI infrastructure investment wave centered around AI compute hardware is far from over, and is just beginning. Under the unprecedented "AI reasoning compute power demand storm" driving force, this round of global AI infrastructure investment wave is expected to reach a scale of $3 trillion to $4 trillion by 2030.