Nvidia intends to put substantial capital into OpenAI, CEO Jensen Huang said on Saturday, pushing back against recent reports suggesting he was unhappy with the ChatGPT developer. Huang described the planned contribution as "huge" and said it would likely represent the largest investment Nvidia has ever made.
The chipmaker announced in September that it planned to invest up to $100 billion in OpenAI, an arrangement designed to give the AI developer the funds and access to advanced chips it needs to sustain its competitive position. That September plan has been publicly referenced as reaching as much as $100 billion.
Recent media accounts said the funding plan had run into obstacles after some people inside Nvidia questioned the deal. Those reports said Huang had privately told industry contacts in recent months that the original $100 billion agreement was non-binding and not finalised, and that he had privately criticised OpenAI for what he described as a lack of business discipline. The accounts also noted Huang had expressed concern about competition OpenAI faces from rivals such as Alphabet’s Google and Anthropic.
Speaking to reporters in Taipei, Huang called such claims that he was unhappy with OpenAI "nonsense." He praised the company’s work and its chief executive, saying: "We are going to make a huge investment in OpenAI. I believe in OpenAI, the work that they do is incredible, they are one of the most consequential companies of our time and I really love working with Sam." The reference was to OpenAI CEO Sam Altman.
Huang added that OpenAI and its leadership were in the process of closing the financing round and that Nvidia would "absolutely be involved." "We will invest a great deal of money, probably the largest investment we've ever made," he said.
When asked whether Nvidia's commitment would exceed $100 billion, Huang responded: "No, no, nothing like that." He said the final amount would be for Altman to announce, depending on how much capital OpenAI sought.
Separately, it has been reported that Amazon is engaged in discussions to invest tens of billions of dollars in OpenAI, with some accounts indicating the figure could be as high as $50 billion. OpenAI is reportedly seeking up to $100 billion in funding, which has been linked to a potential valuation of roughly $830 billion.
Huang made his comments outside a Taipei restaurant where he had hosted Nvidia’s key suppliers in Taiwan. Those attending included the world’s largest contract chipmaker, TSMC. Local media characterized the gathering as a "trillion-dollar dinner" because of the combined market capitalisation of the firms present.
Context and implications
The CEO’s remarks underline Nvidia’s public support for OpenAI and clarify the company’s position amid reports of internal debate and pauses in the fundraising process. Huang’s denial that he was unhappy, his praise for OpenAI’s leadership, and his statement that Nvidia will be "absolutely" involved in the round aim to reassure partners and markets about the company’s commitment.
At the same time, Huang’s comments that the previously discussed $100 billion figure was not something Nvidia would exceed reiterate that the final terms are subject to negotiation and announcement by OpenAI’s leadership.
Direct quotes
"We are going to make a huge investment in OpenAI. I believe in OpenAI, the work that they do is incredible, they are one of the most consequential companies of our time and I really love working with Sam."
"Sam is closing the round (of investment) and we will absolutely be involved. We will invest a great deal of money, probably the largest investment we’ve ever made."
When asked if it would be over $100 billion: "No, no, nothing like that".
Supply chain gathering
The comments came after a dinner Huang hosted for Nvidia’s major Taiwan suppliers, including TSMC. The meeting was noted in local coverage for the combined market value of attendees.
Reporting in this piece reflects the statements and details provided in public accounts and in the comments Huang made to reporters in Taipei.