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36m ago

Nvidia Nears $20 Billion OpenAI Investment as Original $100 Billion Plan Is Scaled Back

Jensen Huang says participation will be staged, not a single binding commitment.

Here is what Jensen Huang and Sam Altman are saying over Nvidia's potential $100 billion investment in OpenAI. (Photos: Reuters)
Sam Altman, CEO of OpenAI, during a media tour of the Stargate AI data center in Abilene, Texas, Sept. 23, 2025.
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Overview

  • Nvidia is close to a deal to invest about US$20 billion in OpenAI’s latest funding round, though terms are not final, according to Bloomberg reporting cited by The Straits Times and CNA.
  • September’s ‘up to US$100 billion’ arrangement was a non-binding letter of intent, and Huang has clarified it was never a firm commitment and that Nvidia will invest “one step at a time.”
  • Huang told CNBC the relationship has “no drama” and said Nvidia will join OpenAI’s next round and would consider participating in an eventual IPO.
  • OpenAI is seeking up to US$100 billion at roughly an US$830 billion valuation, with reports of Amazon discussing as much as US$50 billion and SoftBank exploring up to US$30 billion.
  • Reuters has reported OpenAI is unhappy with some Nvidia chips for inference and has explored alternatives, while Altman and OpenAI’s infrastructure lead publicly praised Nvidia and emphasized ongoing collaboration; Oracle said its US$300 billion compute agreement with OpenAI remains unaffected.