Gary Marcus says a weak OpenAI IPO could hit Nvidia, Oracle and CoreWeave

AI researcher Gary Marcus warned that a disappointing OpenAI IPO could ripple through the company’s heavily relied-upon AI infrastructure suppliers. OpenAI spent $34 billion last year, is projected to burn about $27 billion in 2026, and is consuming $3.7 billion in cash this quarter while remaining unprofitable and facing legal scrutiny. He said Nvidia, Oracle and CoreWeave—now a Nasdaq100 constituent—have benefited materially from OpenAI’s demand for compute, and could face revenue and valuation pressure if OpenAI cuts spending after going public.