The pace and scale of artificial intelligence deals lately has been staggering, with ChatGPT-maker OpenAI alone racking up around $1 trillion-worth of AI deals this year. These interconnected investments have dramatically lifted the valuations of many of the companies involved and sent U.

HSBC upgraded Nvidia to “buy” with a Street-high $320 target, citing expanding AI chip demand and potential recovery in China.

The acquisition comes amid a flurry of deals in recent months involving top AI developers that are flooding the booming AI sector with resources and money.

The two companies now have a partnership to build massive data centers for artificial intelligence (AI) computing.

The two tech titans announced a deal on Monday that will see OpenAI build out "at least 10 gigawatts" of AI data centers running Nvidia systems.

HSBC analyst Frank Lee said in a research note that he expects the market for Nvidia's AI chips to keep growing beyond its Big Tech customers, pointing to OpenAI-backed Stargate projects in the US and abroad as well as OpenAI's ( OPAI.PVT) recent deal with Nvidia, which he sees cumulatively creating up to $400 billion in revenue for the chipmaker.

The deal opens the door for OpenAI to own a 10% stake in AMD. However, CEO Sam Altman says his company is still committed to buying GPUs from longtime partner Nvidia.

On Monday, OpenAI and Nvidia jointly announced a letter of intent for a strategic partnership to deploy at least 10 gigawatts of Nvidia systems for OpenAI's AI infrastructure, with Nvidia planning to invest up to $100 billion as the systems roll out.

Chipmaker Nvidia will invest $100 billion in OpenAI as part of a partnership that will ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.

Six AI startups are part of Jensen Huang's future vision for human-agentic AI workforces.