What's up: Tech’s H-1B debate: Oracle names co-CEOs; Jaguar Land Rover still recovering from cyberattack

Good morning. Tech giants once again are slinging billions like they are so many AI tokens, underscoring the tremendous influence a handful of players wield in the AI boom.

Nvidia on Monday said it would invest up to $100 billion in OpenAI for a massive data center effort, a buildout powered by its own chips. “This is a giant project,” Nvidia Chief Executive Jensen Huang said in an appearance on CNBC.

How giant? Let's go to everyone's favorite yardstick. The Journal reports that the deal would allow OpenAI to build and deploy at least 10 gigawatts, roughly comparable to more than four Hoover Dams. By comparison, OpenAI's $300 billion cloud deal with Oracle, announced earlier this month, involves 4.5 gigawatts, more than two Hoover Dams.

Equally notable is the nature of the deal. The Journal notes that the Nvidia-OpenAI arrangment highlights a practice some investors are calling "circularity", in which Nvidia supports those startups and other companies that rely on its chips. 

The Journal continues: "For every $10 billion Nvidia invests in OpenAI, the startup will spend $35 billion on Nvidia chips, according to an analysis from NewStreet Research. That arrangement reduces Nvidia’s typical margins for cutting-edge chips, but ensures continued demand and offers a lifeline to cash-strapped AI companies."

Oracle names co-CEOs

Safra Catz, who oversaw Oracle’s transformation from cloud computing's chief cynic to cloud giant and AI powerhouse, is taking on a new role as executive vice chair. The software company announced a pair of chief executives to take her place: Clay Magouyrk, president of Oracle’s cloud infrastructure business, and Oracle Industries President Mike Sicilia.

Return of the co-CEO. It is unusual for a duo to helm a company, though firms like Netflix have the arrangement and others have tried before abandoning it, WSJ reports. And Catz initially shared Oracle’s CEO post with Mark Hurd until his death.

Reactions to Trump's new fee for international tech talent

A number of Big Tech CEOs voiced various degrees of approval Monday for President Trump's recent decision to add a $100,000 fee to H-1B visas, CNBC reports.

But not everyone is on board. Startup founders and investors told the WSJ that the size of the fee creates a barrier that only large, well-capitalized companies will be able to navigate.

The New York Times reports that the fee could also dent India's economy. As of 2024, more than 300,000 Indians worked in the U.S. on H-1B visas, many of whom were sending money home. 

Past H-1B holders include a pair of Big Tech CEOs, Microsoft's Satya Nadella and Google's Sundar Pichai.

A potential doctor shortage. BBC reports that the H-1B, while heavily favored by tech firms, is also a tool for talent exercised by the medical sector, which accounts for some 5% to 6% of all Indian H-1B holders. BBC says the fee hike could, in the short term, trigger doctor shortages.

Jaguar Land Rover extended its production pause until Oct. 1 as it continues to deal with the fallout of a recent cyberattack. 

Semiconductor equipment maker ASM International cut its revenue forecast for the year, citing declining orders from producers of integrated circuits that power smartphones and other electronic devices.

The Trump administration said on Monday that Tylenol use during pregnancy is a possible cause of autism and that pregnant women should stop taking it unless absolutely necessary. (WSJ)

Jimmy Kimmel’s late-night show will resume broadcasting on ABC Tuesday, Disney said, days after it pulled the show indefinitely during controversy over the host’s remarks about the killing of conservative activist Charlie Kirk. (WSJ)

The team of federal economists and researchers responsible for producing the government survey that measures hunger in America were put on indefinite paid leave Monday, according to the union that represents the workers. (WSJ)

Denmark’s police and military are investigating drone sightings that forced airports in Copenhagen and Oslo to close for several hours, the latest in a string of disruptions to European airspace. (WSJ)

The WSJ CIO Journal Team is Steven Rosenbush, Isabelle Bousquette and Belle Lin.

The editor, Tom Loftus, can be reached at thomas.loftus@wsj.com.