Investment to continue despite public opposition to data centers
$11 billion secured, with further fundraising planned
Possible relief for concerns over slowing domestic memory demand
OpenAI said it would continue investing in artificial intelligence (AI) infrastructure despite opposition to data centers reflected in the US midterm elections. Attention is focused on whether this could lead to a rebound in Samsung Electronics and SK hynix shares, which fell sharply on concerns over data center regulation.
In a CNBC interview on November 6, local time, OpenAI Chief Financial Officer Sarah Friar said, “We need to consider how to keep investing to meet customer demand,” adding, “We will continue raising funds based on the partnerships we have built with major cloud companies.”
The remarks came shortly after election results revealed opposition to data center construction. According to tallies by CNBC and election information provider Ballotpedia, 40 of 41 data center-related referendums held across 10 US states on November 3 resulted in support for regulation or opposition to proposals promoting development. Concerns about higher electricity bills, environmental damage and job losses fueled opposition.
Friar said, “The election results have not fundamentally changed OpenAI’s business,” adding, “If interest in data centers and local communities increases, we will continue our efforts to engage with communities and build trust.”
On November 5, OpenAI also announced measures to benefit local communities. It decided to cover all electricity and related infrastructure costs for data centers it directly owns and operates, and to establish financial guarantees to prevent costs from being passed on to other electricity consumers even if projects are delayed or canceled. It also plans to disclose electricity and water use and employment figures for each site.
OpenAI is also raising the funds needed to expand investment. According to CNBC, the company has secured $11 billion in new investment. It plans to raise up to an additional $9 billion in the coming weeks. According to sources, the funding valued OpenAI at $1.25 trillion.
Attention is focused on whether OpenAI’s commitment to continued data center investment could lead to a rebound in Samsung Electronics and SK hynix shares. Both companies are pursuing cooperation to supply memory for Stargate, OpenAI’s AI infrastructure business.
Samsung Electronics signed a letter of intent (LOI) with OpenAI in 2025 to participate as a strategic memory partner. SK hynix also signed an LOI to supply high-bandwidth memory (HBM) for Stargate.
In South Korea’s financial sector, continued AI investment is seen as a key condition for a recovery in semiconductor shares. Park Tae-hyung, a private banking branch manager at Woori Bank’s TCE Signature Center, said, “If the market becomes confident that AI investment will continue, domestic semiconductor shares will also have considerable room to rebound.”
Original Korean article: bloomingbit.io
English brief by Korea Wind Intelligence, koreawindintel.com
