Overview
- Jensen Huang said the previously cited $100 billion figure was never a binding commitment and that Nvidia will invest "one step at a time."
- Huang stated Nvidia will make a large commitment and "will absolutely be involved" in OpenAI’s current raise, but not at the $100 billion level.
- The Wall Street Journal reported the September memorandum to build at least 10 gigawatts of compute for OpenAI has effectively stalled.
- Bloomberg reporting indicates talks now focus on Nvidia taking an equity stake, while Amazon is separately negotiating an investment reportedly up to $50 billion.
- Nvidia shares fell roughly 1.8% to 2% in premarket trading on the uncertainty, as Sam Altman publicly praised Nvidia and Oracle said its $300 billion OpenAI deal remains unaffected.