OpenAI
AWS (Trainium)
$138B · company-disclosed
Approximately 2 GW Trainium in expanded agreement (company-disclosed)·Expansion over 8 years·Feb 27, 2026OpenAI — $100B expansion ↗ · OpenAI — original $38B ↗
Cloud & Capital
Market Tape
Market, cloud, and AI infrastructure signals for technology finance decisions.
Market data · Oct 16, 2026 · close · ET
Tracked: 48 unique · Universe screened: 334 · 7 groups
Lumen's Analysis
Lumen is analyzing market conditions…
Market Status
ExposureDefensive
33/1000 = max defensive · 100 = max risk-on
Trend
Long-termSideways
IntermediateSideways
Short-termSideways
Breadth
WeakAbove 20d MA52%
Above 50d MA31%
Risk Environment
VolatilityNeutral
SentimentBearish
MomentumNegative
Momentum EnvChoppy
FinOps Signals
Tech Concentration
XLK vs SPY
Grade C-0.53 RS
Growth ratio (QQQ/SPY)Lagging -0.32
Mag 7 proxy (QQQ)$713 -2.1%
Risk & Opportunity
Commitment Windows
Market Internals
VIX↑
21.4+30.2%
10Y Yield
5.11%+0.4%
Dollar (DXY)
101.9+1.7%
GLD gold ETF
$381-0.3%
USO oil ETF
$161.4+2.6%
Macro Context
Bonds (TLT)
Flat-0.63 RS1M
Credit (HYG)
Widening-1.98 RS1M
Dollar (DXY)
Rising+1.00 RS1M
Small vs Large
IWM lagging-0.94 spread
Momentum
Top and bottom 5 · 334 instruments
Leaders
1
TJXA
The TJX Companies, Inc
+2.90
2
MARA
Marriott International,…
+2.77
3
COSTA
Costco Wholesale Corpor…
+2.17
4
CHDA
Church & Dwight Co., Inc
+2.14
5
HLTA
Hilton Worldwide Holdin…
+2.09
Laggards
1
AREC
Alexandria Real Estate…
-2.85
2
MOSC
The Mosaic Company
-2.63
3
MGMC
MGM Resorts Internation…
-2.02
4
MSC
Morgan Stanley
-1.94
5
STTC
Corporation
-1.92
Sectors · RS1M vs SPY
1XLP
+1.222XLV
+1.013XLE
+0.894XLU
+0.485XLB
+0.346XLY
+0.247XLC
-0.118XLF
-0.359XLI
-0.4110XLRE
-0.4311XLK
-0.53Countries / Global
1EWZ
+0.792EWC
-0.033INDA
-0.22Cloud Valuations
Hyperscaler CapEx
AI Compute Commitments
22
tracked deals
11
Signed
4
Announced
2
Target
5
Reported / in talks
Last updated September 13, 2026 · Values and capacity identify their provenance; only comparable, company-disclosed signed compute/cloud values enter the dollar headline, and no GW total is calculated.
Company-disclosed signed compute and cloud-service contracts total $265B+ across 4 qualifying contracts; reported-only and undisclosed values remain excluded.
Company-disclosed signed compute and cloud-service contracts total $265B+; additional signed agreements have undisclosed or reported-only values, so finance teams should compare provenance and contract structure before planning.
View full tracker
| Buyer | Compute Provider | Status | Value / basis | Capacity / basis | Term | Announced | Source |
|---|---|---|---|---|---|---|---|
| OpenAI | AWS (Trainium) | Signed | $138Bcompany-disclosed | Approximately 2 GW Trainium in expanded agreementcompany-disclosed | Expansion over 8 years | Feb 27, 2026 | OpenAI — $100B expansion · OpenAI — original $38B |
| OpenAI | Firmus (Malaysia AI factories) | Announced | Undisclosedundisclosed | OpenAI allocation undisclosedundisclosed | Multiyear | Sep 8, 2026 | Firmus |
| Amazon | Qualcomm (custom silicon / optical) | Signed | Undisclosedundisclosed | Undisclosedundisclosed | Multigenerational | Sep 8, 2026 | Qualcomm · Qualcomm SEC 8-K |
| Australian AI ecosystem | NVIDIA Cloud Partners / DSX | Target | Undisclosedundisclosed | Up to 2 GW by 2027 (ecosystem target)company-disclosed | Target by 2027 | Sep 9, 2026 | NVIDIA |
| Unidentified customer | SpaceX / xAI | Reported / in talks | $1.11B/month reported (run rate; total undisclosed)reported | Undisclosedundisclosed | Undisclosed | Sep 2026 | Business Insider |
| Anthropic | AWS (Trainium / Inferentia) | Signed | $100B+company-disclosed | Up to 5 GWcompany-disclosed | 10 years | Apr 2026 | Anthropic |
| Anthropic | Google Cloud / TPU (Broadcom) | Signed | Undisclosedundisclosed | Multiple gigawattscompany-disclosed | Deployment starts 2027 | Apr 2026 | Anthropic |
| Anthropic | xAI / SpaceX (Colossus 1) | Signed | ~$40B reportedreported | More than 300 MW / 220,000+ NVIDIA GPUscompany-disclosed | 3 years reported | May 6, 2026 | Anthropic · TechCrunch |
| Anthropic | Nscale (West Virginia / Vera Rubin) | Reported / in talks | ~$45B reportedreported | ~460 MW reportedreported | 6 years reported | Aug 26, 2026 | Reuters |
| Anthropic | Lambda (Texas / Nueces County) | Reported / in talks | ~$35B reportedreported | ~350 MW reportedreported | Undisclosed | Aug 31, 2026 | Reuters |
| AnthropicSeparate equity investment: AMD may invest up to $5B in Anthropic (company-disclosed) | AMD (Instinct MI450 / Helios) | Announced | Undisclosedundisclosed | Up to 2 GWcompany-disclosed | Starts H1 2027 | Jul 22, 2026 | AMD |
| Anthropic | Volta (Norway project) | Reported / in talks | ~$10B reportedreported | ~133 MW reportedreported | 6 years reported | Aug 4, 2026 | TechCrunch |
| OpenAI | Stargate (Oracle, SoftBank, partners) | Target | Undisclosed current valueundisclosed | Original 10 GW goal surpassedcompany-disclosed | Ongoing | Jan 2025 (current update 2026) | OpenAI |
| OpenAISeparate equity investment: $30B (NVIDIA equity stake in OpenAI, separate from compute) (company-disclosed) | NVIDIA (Vera Rubin) | Signed | Undisclosedundisclosed | 3 GW dedicated inference + 2 GW trainingcompany-disclosed | — | Feb 27, 2026 | OpenAI — Scaling AI for everyone (Feb 2026) · OpenAI & NVIDIA — original partnership announcement (Sept 2025) |
| Meta | NVIDIA (Blackwell + Vera Rubin + Grace) | Announced | Undisclosedundisclosed | Millions of Blackwell and Rubin GPUscompany-disclosed | Multiyear | Feb 2026 | NVIDIA |
| Meta | AMD (Instinct MI450+) | Signed | Undisclosedundisclosed | Up to 6 GWcompany-disclosed | Multiyear | Feb 24, 2026 | Meta |
| Meta | Amazon (Graviton) | Signed | Undisclosedundisclosed | Tens of millions of Graviton corescompany-disclosed | Multiyear | 2026 | Amazon |
| Meta | CoreWeave (Vera Rubin) | Signed | ~$21Bcompany-disclosed | AI cloud capacity; no comparable GW disclosedundisclosed | Through Dec 2032 | Apr 9, 2026 | CoreWeave |
| Jane Street | CoreWeave | Signed | ~$6Bcompany-disclosed | Undisclosedundisclosed | Undisclosed | Apr 15, 2026 | CoreWeave |
| OpenAI | Cerebras Systems | Announced | Undisclosedundisclosed | 750 MWcompany-disclosed | Through 2028 | Jan 14, 2026 | OpenAI |
| OpenAI | SB Energy / NVIDIA (PORTS-Pike, Ohio) | Signed | Undisclosedundisclosed | 4.25 IT-GW initial; approximately 3.75–3.8 IT-GW optional; OpenAI describes the overall agreement as approximately 8 IT-GWcompany-disclosed | 20-year lease, phased availability beginning 2028 | Aug 17, 2026 | OpenAI · NVIDIA News · NVIDIA SEC 8-K (Aug 17, 2026) |
| SpaceX / xAI | Reported / in talks | ~$30B reportedreported | Undisclosedundisclosed | 32 months reported | Jun 5, 2026 | TechCrunch |
Signed
OpenAI
Firmus (Malaysia AI factories)
Undisclosed · undisclosed
Amazon
Qualcomm (custom silicon / optical)
Undisclosed · undisclosed
Australian AI ecosystem
NVIDIA Cloud Partners / DSX
Undisclosed · undisclosed
Unidentified customer
SpaceX / xAI
$1.11B/month reported (run rate; total undisclosed) · reported
Anthropic
AWS (Trainium / Inferentia)
$100B+ · company-disclosed
Anthropic
Google Cloud / TPU (Broadcom)
Undisclosed · undisclosed
Anthropic
xAI / SpaceX (Colossus 1)
~$40B reported · reported
More than 300 MW / 220,000+ NVIDIA GPUs (company-disclosed)·3 years reported·May 6, 2026Anthropic ↗ · TechCrunch ↗
Anthropic
Nscale (West Virginia / Vera Rubin)
~$45B reported · reported
Anthropic
Lambda (Texas / Nueces County)
~$35B reported · reported
Anthropic
AMD (Instinct MI450 / Helios)
Undisclosed · undisclosed
Separate equity investment: AMD may invest up to $5B in Anthropic (company-disclosed)
Anthropic
Volta (Norway project)
~$10B reported · reported
OpenAI
Stargate (Oracle, SoftBank, partners)
Undisclosed current value · undisclosed
OpenAI
NVIDIA (Vera Rubin)
Undisclosed · undisclosed
Separate equity investment: $30B (NVIDIA equity stake in OpenAI, separate from compute) (company-disclosed)
3 GW dedicated inference + 2 GW training (company-disclosed)·—·Feb 27, 2026OpenAI — Scaling AI for everyone (Feb 2026) ↗ · OpenAI & NVIDIA — original partnership announcement (Sept 2025) ↗
Meta
NVIDIA (Blackwell + Vera Rubin + Grace)
Undisclosed · undisclosed
Meta
AMD (Instinct MI450+)
Undisclosed · undisclosed
Meta
Amazon (Graviton)
Undisclosed · undisclosed
Meta
CoreWeave (Vera Rubin)
~$21B · company-disclosed
Jane Street
CoreWeave
~$6B · company-disclosed
OpenAI
Cerebras Systems
Undisclosed · undisclosed
OpenAI
SB Energy / NVIDIA (PORTS-Pike, Ohio)
Undisclosed · undisclosed
4.25 IT-GW initial; approximately 3.75–3.8 IT-GW optional; OpenAI describes the overall agreement as approximately 8 IT-GW (company-disclosed)·20-year lease, phased availability beginning 2028·Aug 17, 2026OpenAI ↗ · NVIDIA News ↗ · NVIDIA SEC 8-K (Aug 17, 2026) ↗
SpaceX / xAI
~$30B reported · reported