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OpenAI said Monday it is working with chipmaker Broadcom to design its own artificial intelligence computer chips.
The two California companies didn’t disclose the financial terms of the deal but said they will start deploying the new racks of customized “AI accelerators” late next year.
It’s the latest big deal between OpenAI, maker of ChatGPT, and the companies building the chips and data centers required to power AI.
OpenAI in recent weeks has announced partnerships with chipmakers Nvidia and AMD that will supply the AI startup with specialized chips for running its AI systems. OpenAI has also made big deals with Oracle, CoreWeave and other companies developing the data centers where those chips are housed.
Many of the deals rely on circular financing, in which the companies are both investing in OpenAI and supplying the world’s most valuable startup with technology, fueling concerns about an AI bubble. OpenAI doesn’t yet turn a profit but says its products now have more than 800 million weekly users.
“What’s real about this announcement is OpenAI’s intention of having its own custom chips,” said analyst Gil Luria, head of technology research at D.A. Davidson. “The rest is fantastical. OpenAI has made, at this point, approaching $1 trillion of commitments, and it’s a company that only has $15 billion of revenue.”
OpenAI CEO Sam Altman said the work with Broadcom to develop a custom chip began about 18 months ago. Broadcom also works with other leading AI developers, including tech giants Amazon and Google.
Altman said on a podcast announcing the deal that the computing power made possible through the Broadcom partnership will amount to 10 gigawatts, which he described as “a gigantic amount of computing infrastructure to serve the needs of the world to use advanced intelligence.”
Broadcom shares surged more than 9% on Monday.
Broadcom CEO Hock Tan said on the same podcast that OpenAI needs more computing capacity as it progresses toward a “better and better frontier model and towards superintelligence.”
“If you do your own chips, you control your destiny,” he added.
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Rio Tinto releases third quarter 2025 production results
Our pace continues – strong production across the portfolio
MELBOURNE, Australia–(BUSINESS WIRE)–
Rio Tinto Chief Executive Simon Trott said: “Safety remains our number one priority. We are deeply saddened by the tragic death of Mohamed Camara at the SimFer mine site and are committed to learning across our business to prevent future incidents. This has been a time for huge reflections on safety across the group.“We continue to strengthen performance from our assets, setting back-to-back quarterly production records in our bauxite business and at Oyu Tolgoi – where the underground ramp-up remains on track to boost copper output by more than 50% this year.
“We are focused on delivering a strong finish to the year from the Pilbara. Our growth projects are also progressing at pace – at Simandou, we started loading first ore at the mine for movement down the rail and to the port in October.
“We are on track to meet production guidance for 2025, with an upwards revision to bauxite this quarter, and are well positioned to deliver compelling mid-term production growth. We will continue to deliver further shareholder value through operational excellence, simplification and discipline on performance and capital investment.”
Executive Summary
- New operating model and executive team: to simplify the business and unlock additional shareholder value. New structure comprises three world-class businesses: Iron Ore; Aluminium & Lithium; and Copper. Borates and Iron & Titanium have been placed under strategic review.
- Copper equivalent (CuEq)1 production: increased 9% in Q3 YoY, driven by strong performance across all our assets.
- Copper: Total production is on track to achieve the higher end of full year guidance, driven by the strong ramp-up at Oyu Tolgoi. Our Kennecott mine performed as expected during the quarter while major planned maintenance at the concentrator and smelter commenced successfully.
- Iron ore: Pilbara achieved its second highest Q3 shipments since 2019, up 6% from Q2. As part of our Iron Ore replacement strategy, West Angelas Sustaining Project received all Government approvals in October.
- Aluminium & Lithium: Full year bauxite production guidance upgraded driven by operational excellence at our bauxite business, especially at Amrun.
Production2
Quarter 3
2025vs Q3
2024vs Q2
20252025 guidance6
Guidance status
Pilbara iron ore shipments (100% basis)
Mt
84.3
–%
+6%
323 to 338
(at lower end)Unchanged
Pilbara iron ore production (100% basis)
Mt
84.1
–%
–%
NA
Unchanged
IOC5 iron ore pellets and concentrate
Mt
2.3
+11%
-6%
9.7 to 11.4
Unchanged
(at lower end)
Bauxite
Mt
16.4
+9%
+5%
59 to 61
(previously 57 to 59)Upgraded
Alumina
Mt
1.9
+7%
+4%
7.4 to 7.8
Unchanged
Aluminium3
Mt
0.86
+6%
+2%
3.25 to 3.45
Unchanged
Copper (consolidated basis)4
kt
204
+10%
-11%
780 to 850
(at higher end)Unchanged
Titanium dioxide slag
Mt
0.3
-1%
-3%
1.0 to 1.2
(at lower end)Unchanged
Boric oxide equivalent
Mt
0.1
+2%
-3%
~0.5
Unchanged
1 Copper equivalent volume = Rio Tinto’s share of production volume / Volume conversion factor x Product price ($/t) / Copper price ($/t). Prices are based on long-term consensus prices.2 Rio Tinto share unless otherwise stated.3 Includes primary aluminium only.4 From Q1 2025, we report copper production and guidance as one metric, in order to simplify reporting and align with peer practices. For further details see slide 90 of our Investor Seminar 2024 presentation.5 Iron Ore Company of Canada.6 See further notes in Section 2, 2025 guidance.
The full third quarter production results are available here
This announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary.
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
View source version on businesswire.com: https://www.businesswire.com/news/home/20251013952827/en/
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations,
United Kingdom
Matthew Klar
M +44 7796 630 637
David Outhwaite
M +44 7787 597 493Media Relations,
Australia
Matt Chambers
M +61 433 525 739
Rachel Pupazzoni
M +61 438 875 469
Bruce Tobin
M +61 419 103 454Media Relations,
Canada
Simon Letendre
M +1 514 796 4973
Malika Cherry
M +1 418 592 7293
Vanessa Damha
M +1 514 715 2152Media Relations,
US & Latin America
Jesse Riseborough
M +1 202 394 9480Investor Relations,
United Kingdom
Rachel Arellano
M: +44 7584 609 644
David Ovington
M +44 7920 010 978
Laura Brooks
M +44 7826 942 797
Weiwei Hu
M +44 7825 907 230Investor Relations,
Australia
Tom Gallop
M +61 439 353 948
Phoebe Lee
M +61 413 557 780Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885Rio Tinto Limited
Level 43, 120 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404riotinto.com
Category: General
Source: Rio Tinto
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