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1. Corporate Structure The OpenA press release says that Stargate is "a new company." Is Stargate established as a standard C-corp, LLC, a joint venture, or something else entirely? 2. CEO Leadership Will Stargate have an independent CEO? Who will lead Stargate on a daily basis, and how is that person chosen? Will they be as operationally intense as the XAI team that launched Memphis? 3. Customer Exclusivity Is OpenAI the sole customer, or will Stargate yearn to serve other businesses? Does Microsoft’s deal with OpenAI impose any exclusivity constraints (the Microsoft release suggests it may)? 4. Operating Partner Role Release says OpenAI is the “operating partner.” What does that mean in practical terms—are they running day-to-day operations, technology decisions, or something else? If they have full control this would require consolidation as a public co. 5. Oracle’s Day-to-Day Involvement What specific role is Oracle playing? Are they providing infrastructure, software, strategic guidance, financial backing? What pieces of their software are being utilized? Did Oracle previously own the Abilene, Texas assets? 6. Comparison to CoreWeave What kind of business is Stargate? Is it effectively a direct competitor to CoreWeave’s AI hosting approach, or is it structured and positioned differently? If so, how is it different? 7. Debt Usage Will Stargate employ significant debt financing? (Equinix is around 1:1 debt-to-equity, while CoreWeave is rumored to go as high as 3:1 or 4:1.) What level of risk will this entity assume? 8. Appeal to Third-Party Investors If 3rd parties invest (as release suggests), what’s the ROI for them? Is there a guaranteed spend from OpenAI? Are other customers lined up (unusual to have an investible company with 1 customer)? How do these investors get liquidity? 9. Standalone & Potential “Round-Tripping” If this isn’t intended to be a stand-alone public company, how do outside investors eventually recoup their investment? Does funding from strategic partners essentially pay for their own product usage (i.e., classic “round-tripping”)? 10. Pre-training vs Inference & Data Center Structure Do we need ever-increasing larger clusters? Do data limits & parameter count limits reduce this need? Does "inference-most" imply a new architecture? Do Deepseek & Bytedance releases suggests performance can cost much less?