The Next Bottleneck for AI is Not GPUs, But Electricity: Understanding the Major Partnership Between OpenAI and SB Energy

The Core of the AI Boom Shifts to "Electricity"—OpenAI and SoftBank Invest $1 Billion in SB Energy

The axis of AI competition is quietly but decisively shifting. The focus is not on the intelligence of models or securing GPUs, but on "electricity" and "data centers." According to MarketScreener, OpenAI and SoftBank have jointly invested a total of $1 billion in SB Energy, indicating their intention to accelerate the development of infrastructure that will form the foundation of the AI era. The development of a 1.2-gigawatt-class data center planned in Milam County, Texas, is positioned as a symbolic project.

This investment aligns with the "Stargate" initiative announced at the White House, which is a massive AI infrastructure investment plan. The demand for AI does not end with the "app boom" but directly connects to the industrial foundation—computing resources. Therefore, OpenAI's move into infrastructure is a "natural consequence."

What Happened: The Structure of the Investment is "1 Billion Dollars," "1.2GW," and "Non-Exclusive Preferred Partnership"

The key points this time are simple.

• OpenAI and SoftBank each invest $500 million, totaling $1 billion, in SB Energy

• SB Energy will construct and operate a 1.2GW data center for OpenAI in Milam County, Texas

• The three companies will create a "new data center model" (non-exclusive "preferred" partnership)

• SB Energy will also become a "customer" utilizing OpenAI's API and ChatGPT internally

MarketScreener reports that this partnership aims to establish a model for "optimized, rapidly deployable, and energy-efficient data centers." It combines OpenAI's design philosophy with SB Energy's execution power and power integration.

Meanwhile, OpenAI's official announcement also touches on regional and environmental issues, such as employment, grid modernization, and designs to minimize water usage. AI data centers are often criticized for "huge power consumption" and "cooling water issues," and this can be seen as a preemptive explanation.

Why OpenAI is Now Venturing into the "Power Side"

The underlying reality is that the expansion of AI is beginning to encounter "power constraints." Reuters also points out that as AI advances, the demand for data centers is rapidly expanding, and companies are investing in power infrastructure to overcome these constraints.

Traditionally, AI companies were on the "borrowing side" of cloud and colocation. However, cutting-edge learning and inference have become areas dominated by power, land, grid connections, and construction speed. In other words, AI is becoming not only a software industry but also a heavy, large-scale infrastructure industry.

The Financial Times highlights that SB Energy, originally focused on renewable energy development, has recently expanded its focus to data center construction, and from an investor's perspective, there is concern about "how to recover massive infrastructure investments." If the AI growth story becomes an "investment story," the evaluation criteria will also change.

SNS Reactions: The Buzz was "Electricity as the Main Battlefield," "The Decarbonization Dilemma," "The Winner is Construction Power"

So how was this perceived on social media? On X (formerly Twitter), many posts were difficult to verify due to viewing restrictions, but on LinkedIn, posts by SB Energy's co-CEO and the comments on them provided a relatively clear sense of the "industry atmosphere."

On LinkedIn, voices interpreting this move as "AI has become a race not of software, but of electricity, land, and execution" were prominent. For example, in the comments section, "Power capacity is becoming more of a constraint than computing resources," "Geography (where power is available) will determine the placement of next-generation AI," and **"Balancing decarbonization goals with baseload (stable power supply) is in tension"** were discussed quite straightforwardly.

Additionally, other comments praised "infrastructure-first" strategies, noting that "the real competition is not trend-following but infrastructure building" and "those who bet early will be the long-term winners." Overall, social media reactions focused more on the change in industrial structure of **"who will secure power and data centers"** rather than the technology itself.

Is This "Vertical Integration" or "Securing the Supply Chain"?

This partnership appears to be more of a strategy to "secure preferred partners" rather than complete self-reliance (full vertical integration). OpenAI's official announcement clearly states that it is a "non-exclusive preferred partnership," leaving room for flexibility.

However, in practical terms, the significance of a preferred slot is substantial. Adjusting grid connections, land development, construction, cooling/water, and power procurement—these processes are full of bottlenecks, and delays directly lead to a shortage of computing resources. Securing SB Energy as the "executor including design and power integration" is crucial for OpenAI to maintain the speed of AI provision.

Region and Environment: Increasing "Accountability" for Employment, Water, and the Grid

On the other hand, massive data centers can easily cause friction with local communities. While job creation is welcomed, the construction rush can burden the living environment, land prices, and the power grid. OpenAI's official announcement emphasizing "thousands of construction jobs," "designs to minimize water usage," and "protecting local ratepayers by building new power sources" directly addresses points that are often criticized.

The narrative of "AI becoming more convenient" translates to the realities of "power generation, transmission, water supply, and transportation" for the region. It was symbolic that this awareness of the issue was shared on social media with expressions like "the tension between decarbonization and stable supply."

Future Focus: "How Quickly Can It Operate" and "How to Explain the Power"

MarketScreener reports that multiple multi-gigawatt campuses are under development, with the first unit expected to come online "this year" (expression based on the article).

Meanwhile, OpenAI's official announcement states that initial facilities will begin operation (enter service) in 2026, and there are differences in how information is presented and the assumptions (which facilities are referred to).

This "operation timing" is crucial for both investors and users, as AI demand will not wait.

Another focus is the legitimacy of the power. As the social implementation of AI progresses, questions like "Where does that power come from?" and "What is the regional burden?" will become more pressing. The partnership between OpenAI, SoftBank, and SB Energy is not only a strategy for securing computing resources but also at the forefront of accountability.

Summary: AI Supremacy Shifts from "Chips" to "Power and Construction"

The $1 billion investment carries a strong message beyond the amount itself. The winning strategy in AI is not just about improving models. Companies and alliances that can provide massive power quickly, stably, and with social consensus will become stronger. The reaction on social media that "the constraint is power" and "the winner is infrastructure" is precisely because they intuitively understand this structural change.

Now that OpenAI has stepped from being an "AI company" to an "infrastructure designer," the next questions are not just about scale. Speed, environment, region, and a sustainable revenue model—the future of AI is beginning to be determined outside the server room.