At the center of this momentum is the push toward so-called “agentic AI” — systems designed to autonomously plan, reason, and take actions on behalf of users. Companies are betting that these tools will define the next generation of consumer and enterprise software, intensifying competition across Silicon Valley and beyond.
Meta doubles down on agentic AI
Meta Platforms has emerged as one of the most aggressive buyers. The company is acquiring Chinese AI startup Manus in a deal valuing the firm at an estimated $2 billion to $3 billion, according to a source familiar with the matter. Chief executive Mark Zuckerberg has signaled that Meta plans to embed agentic AI tools across Facebook, Instagram, and WhatsApp, positioning the company to compete more directly with rivals building autonomous assistants.
Beyond acquisitions, Meta has been locking in massive infrastructure agreements. It signed a $14 billion deal with CoreWeave to secure computing power, is in talks with Oracle on a cloud contract valued at about $20 billion, and has a six-year cloud agreement with Google worth more than $10 billion. Meta has also taken a 49% stake in Scale AI for roughly $14.3 billion, bringing its young CEO Alexandr Wang into a central role in Meta’s AI strategy.
OpenAI’s expanding web of alliances
OpenAI, the company behind ChatGPT, sits at the heart of many of the largest deals announced. Amazon is considering an investment of around $10 billion in OpenAI, although discussions remain fluid. Disney has agreed to invest $1 billion and license characters from Star Wars, Pixar, Marvel, and Disney classics for use in OpenAI’s Sora video generator, a move that could reshape how entertainment content is produced. The agreement excludes talent likenesses and voices, but will allow AI-generated videos featuring iconic characters starting next year.
On the hardware side, OpenAI has partnered with Broadcom to develop its first in-house AI processors and signed a multi-year chip supply deal with AMD that could give OpenAI the option to acquire up to 10% of the chipmaker. Nvidia, already a key supplier, is set to invest up to $100 billion in OpenAI while continuing to provide data-center chips.
Cloud infrastructure is another pillar. Oracle is reported to have signed one of the largest cloud contracts ever, under which OpenAI could purchase up to $300 billion in computing power over roughly five years. CoreWeave, meanwhile, signed a five-year, $11.9 billion contract with OpenAI ahead of its IPO.
These efforts are closely tied to Stargate, a joint venture between SoftBank, OpenAI, and Oracle to build large-scale data centers. Announced earlier this year, the project could see investments of up to $500 billion in AI infrastructure.
Nvidia, Microsoft, and the infrastructure arms race
Nvidia continues to cement its role as the backbone of the AI boom. The chipmaker has agreed to license technology from startup Groq and hire its CEO and engineers, in a deal reported to value Groq’s assets at $20 billion. Nvidia is also investing $5 billion in Intel, taking a roughly 4% stake, and backing CoreWeave with a $6.3 billion initial order that guarantees unused cloud capacity.
Together with Microsoft and BlackRock, Nvidia is part of an investor group acquiring Aligned Data Centers for about $40 billion, highlighting the growing importance of physical infrastructure in AI competition. Nvidia and Microsoft are also backing Anthropic, with Microsoft investing up to $5 billion and Nvidia up to $10 billion, while Anthropic commits $30 billion in cloud spending and significant compute capacity powered by Nvidia’s latest hardware.
Google, Amazon, and others expand their bets
Google is investing $40 billion in new data centers in Texas through 2027 and has struck a $2.4 billion licensing and talent deal with AI coding startup Windsurf. Amazon, meanwhile, has doubled down on Anthropic with a $4 billion investment, reinforcing its challenge to OpenAI.
Other notable moves include Microsoft’s $17.4 billion GPU infrastructure deal with Nebius Group, SoftBank’s $2 billion capital injection into Intel, Tesla’s $16.5 billion chip supply agreement with Samsung, and SoftBank’s $4 billion acquisition of DigitalBridge Group to expand its digital infrastructure portfolio.
A reshaped competitive landscape
Taken together, these deals illustrate how the AI race has evolved into a full-stack competition, spanning models, chips, cloud services, data centers, and exclusive partnerships. As companies pour unprecedented sums into AI ecosystems, the industry is being reshaped by consolidation, long-term contracts, and strategic alliances that may define winners and losers for years to come.