Nvidia CEO pushes back against report that his company’s $100B OpenAI investment has stalled

Nvidia CEO Jensen Huang said Saturday that claims of tension between his company and OpenAI are unfounded, dismissing a recent report suggesting Nvidia is pulling back from its massive planned investment.

Huang’s remarks followed a Wall Street Journal report published late Friday that said Nvidia was reconsidering its commitment to OpenAI. In September, the two companies announced a sweeping plan under which Nvidia would invest up to $100 billion in OpenAI and build roughly 10 gigawatts of computing infrastructure to support OpenAI’s operations.

According to the Journal, Huang has recently emphasised that the arrangement is nonbinding. The report also claimed he has privately raised concerns about OpenAI’s business strategy and expressed unease about growing competition from rivals such as Anthropic and Google. The Journal added that Nvidia and OpenAI have been reassessing their relationship, though not severing ties, with more recent discussions allegedly centred on an equity investment of tens of billions of dollars rather than the full $100 billion figure.

An OpenAI spokesperson pushed back on the notion of a breakdown in relations, telling the Journal that the two companies are “actively working through the details of our partnership.” The spokesperson added that Nvidia “has underpinned our breakthroughs from the start, powers our systems today, and will remain central as we scale what comes next.”

Bloomberg reported that Huang was asked about the Journal story during a visit to Taipei. In response, he rejected the idea that Nvidia’s interest had cooled, calling the report inaccurate and insisting the company plans to take part in OpenAI’s upcoming funding round.

“We will definitely participate,” Huang said, according to Bloomberg, adding that OpenAI represents “such a good investment.” He went on to say, “We will invest a great deal of money. I believe in OpenAI. The work that they do is incredible. They’re one of the most consequential companies of our time.”

Huang declined to disclose how much Nvidia plans to invest, instead deferring to OpenAI CEO Sam Altman. “Let Sam announce how much he’s going to raise — it’s for him to decide,” Huang said.

In December, the Wall Street Journal reported that OpenAI was seeking to raise as much as $100 billion in a new funding round. This week, The New York Times reported that Nvidia, Amazon, Microsoft, and SoftBank are in discussions about potential investments, underscoring the intense interest in OpenAI as it seeks to fund its next phase of growth.