Sven Semmelmann has been named the head of compute capital markets at generative AI business OpenAI.

Semmelmann joins from data center builder and backer Generate Capital, where he spent six years as the head of structured finance.

Generate has invested in Soluna, partnered with Vertiv, and backed sustainability-focused businesses such as battery storage company esVolta.

However, a bad investment in the solar and storage business, Pine Gate, which declared bankruptcy last year, caused layoffs at the investor.

Semmelmann has also held roles at the Industrial and Commercial Bank of China and Deutsche Bank.

"I’m excited to welcome Sven Semmelmann to the OpenAI finance team as head of compute capital markets," OpenAI CFO Sarah Friar said.

"Sven will lead our capital markets strategy for AI infrastructure, developing the financing solutions and partnerships needed to support our expanding global compute platform and long-term investment plans.

"Sven brings the experience, creativity, and global perspective needed to finance infrastructure at immense scale. I’m thrilled to have him on the team as we build the foundation for the next era of AI."

OpenAI has rapidly expanded its AI infrastructure portfolio to support its training and inference needs. Across its Stargate data center joint venture and cloud contracts, the company is committed to spending about $1.4 trillion over the next eight years (as of November 2025).

It is also funding the co-development of its own chips, starting with the Jalapeño Intelligence Processor, and has floated the possibility of launching a cloud service.

The increasing costs come as OpenAI prepares to go public, with the company earlier this month filing a confidential draft registration statement for a potential IPO.