Analysis of Investment Value in AI Infrastructure from OpenAI's 'Stargate' Overseas Expansion Project

OpenAI appointed former UK Chancellor George Osborne to lead the ‘OpenAI for Countries’ project, a strategic move seen as the overseas extension of the $500 billion ‘Stargate’ data center plan [1]. This project aims to promote cooperation among countries in AI infrastructure and application layers, and is expected to accelerate the construction of AI data centers globally, bringing significant investment opportunities for related stocks.

As the absolute leader in the AI chip field, it directly benefits from the demand for data center expansion:

• Market Cap
  : $4.33 trillion, far exceeding other AI infrastructure companies [0]
• Financial Performance
  : Data center business accounts for 88.3% of revenue, reaching $115.19 billion [0]
• Stock Price Performance
  : Up 28.49% year-to-date, with a 1-year increase of 34.64% [0]
• Valuation Level
  : P/E ratio of 43.58x, with analysts’ target price of $250 (+40.7%) [0]

As NVIDIA’s main competitor, it also benefits from AI infrastructure construction:

• Market cap of $339.5 billion, current stock price of $209.17 [0]
• P/E ratio of 108.94x, indicating high market expectations for its AI growth

and as leading data center REITs, face different development trends:

:

• Market cap of $73.95 billion, down 19.71% year-to-date [0]
• Analysts’ target price of $917 (+21.0%) [0]
• Has significant market share in the Americas, EMEA, and Asia-Pacific regions [0]

:

• Market cap of $51.62 billion, down 15.10% year-to-date [0]
• Analysts’ target price of $202 (+34.4%) [0]
• Revenue is relatively balanced between U.S. and non-U.S. markets (52.4% vs. 47.6%) [0]

As an AI software platform company, has the most outstanding performance:

• Surge of 149.70% year-to-date, with a 1-year increase of 147.85% [0]
• Market cap of $428.9 billion, which has exceeded traditional data center companies
• Government and commercial revenues account for 54.8% and 45.2% respectively [0]

The ‘Stargate’ overseas expansion will directly drive:

1. GPU Demand
   : Surge in demand for high-performance computing chips in data centers
2. Data Center Construction
   : Accelerated construction of global data centers, benefiting REITs
3. Network Equipment
   : Growth in demand for data center interconnection equipment

As the project progresses, it will form:

1. Geographic Diversification
   : Reduce reliance on a single region
2. Industry Chain Collaboration
   : Benefit the entire industry chain of chips-data centers-AI applications
3. Increased Standardization
   : Reduce AI deployment costs

1. Transformation of Traditional Tech Giants
   : Cloud computing service providers accelerate AI adoption
2. Emerging Market Opportunities
   : Demand for AI infrastructure construction in developing countries
3. Improved Regulatory Framework
   : Countries will establish AI infrastructure regulatory systems

1. Chip Manufacturers
   : NVIDIA and AMD, as core hardware suppliers, have the highest certainty of investment opportunities
2. Data Center REITs
   : Current valuations are low, with opportunities for valuation repair
3. AI Software Companies
   : Application-layer companies like Palantir have the highest growth potential

1. Valuation Risk
   : Valuations of some AI-related stocks are already at high levels
2. Technical Risk
   : Rapid iteration of AI technology may bring investment uncertainty
3. Policy Risk
   : Regulatory policies on AI in various countries may affect project progress

OpenAI’s ‘Stargate’ overseas expansion project brings significant investment opportunities for AI infrastructure-related stocks. From the perspective of investment value ranking, chip manufacturers (NVIDIA, AMD) have the highest certainty; data center REITs (Equinix, Digital Realty) have opportunities for valuation repair; and AI software companies (Palantir) have the highest growth potential. Investors should reasonably allocate relevant targets based on their risk preferences and investment horizons.

: This chart shows the market cap comparison, year-to-date performance, P/E ratios, and price-valuation relationships of major AI infrastructure-related companies. Among them, NVIDIA leads in market cap, Palantir stands out most in stock price performance, and data center REITs currently have relatively low valuations.

[0] Gilin API Data
[1] Forbes - “2025’s Biggest AI Deals, Ranked: Disney Invests $1 Billion…” (https://www.forbes.com/sites/tylerroush/2025/12/11/disneys-1-billion-openai-investment-makes-2025s-top-ai-deals-full-list-ranked/)
[2] Bloomberg - “Oracle’s $300 Billion AI Bet Has Fast Become a Bubble Barometer” (https://www.bloomberg.com/news/features/2025-12-12/oracle-s-300-billion-openai-deal-has-investors-worried-about-its-ai-spending)
[3] Yahoo Finance - “2 AI Data Center Stocks to Buy Right Now” (https://finance.yahoo.com/news/2-ai-data-center-stocks-142800141.html)
[4] Yahoo Finance - “Tap Into 2026 AI Infrastructure Gains With This High- …” (https://finance.yahoo.com/news/tap-2026-ai-infrastructure-gains-221100969.html)