6.6 Investments OpenAI预计2030年前现金缺口达2780亿美元，算力支出高企。AI热潮推动比特币矿场因能源和电网优势成为AI基础设施新宠。
OpenAI预计2026年至2030年间累计自由现金流将为负约2780亿美元，主要原因是算力和基础设施支出预计高达8560亿美元。公司营收有望从2026年的360亿美元增长至2030年的3500亿美元，五年总营收预计约为8400亿美元。尽管OpenAI在三月完成了1220亿美元的融资，但以当前的支出速度，这笔资金可能会在2028年耗尽。为满足不断扩大的基础设施需求，OpenAI正寻求以超过1.2万亿美元估值进行新一轮融资。 AI算力需求激增，推动比特币矿场转型为AI和高性能计算的宝贵资产，因电力和电网接入变得日益重要。拥有成熟能源基础设施的比特币矿工正迎来成为AI基础设施枢纽的新机遇。OpenAI的扩张计划，包括Stargate项目，凸显了价值正从芯片向能源基础设施转移，能源资产和电网接入已成为AI发展的关键。
OpenAI seeks a $1.2 trillion valuation as projections show a cash burn of $278 billion by 2030
OpenAI Plans to Spend $278 Billion More Than It Earns Through 2030
OpenAI Forecasts $278 Billion Cash Burn by 2030 as AI Spending Soars
OpenAI compute surge turns Bitcoin mining sites into AI infrastructure assets
OpenAI's $280 billion investment in computing infrastructure is revaluing the energy assets of Bitcoin miners
OpenAI projects $278B cash burn through 2030 as compute spending surges
FT: OpenAI forecasts a cumulative cash flow gap of $278 billion by 2030.
