Ritter: $500B Stargate project is $100B equity, 75% chips, 25% infrastructure
Gordon Ritter · How Emergence Capital Bet Early on Zoom, Salesforce, Veeva—& Now Together.ai · Sourcery with Molly O'Shea · Jan 30, 2025 · at 19:17
Emergence Capital founding partner Gordon Ritter breaks down the capital structure and expenditure distribution of massive AI infrastructure initiatives like Stargate.
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“Remember, it's equity dollars and debt that's going into this, so five hundred billion is probably a hundred billion of equity, of money going in that is sort of risk money, the rest is building out The infrastructure, 25% of it goes to buildings and cooling systems and everything else. About 75% goes to you know, buying the chips.”
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