OpenAI Cuts Spending Plans From $1.4 Trillion To $600 Billion: What It Means For The Capex Cycle

Last last week, CNBC and other outlets reported that OpenAI had "reset" spending expectations, and was now targeting roughly $600 billion in total compute spend through 2030, as the ChatGPT maker lays groundwork for an IPO that could value it at up to $1 trillion. This is especially notable because just a few months prior, in late 2025, OpenAI's Sam Altman had said OpenAI is committed to spending $1.4 trillion to develop 30 gigawatts of computing resources