OpenAI Investment was "Never a Commitment," Nvidia’s Huang Says

Nvidia Corp. Chief Executive Officer Jensen Huang said the company’s proposed $100 billion investment in OpenAI was “never a commitment,” adding that Nvidia would consider any funding rounds “one at a time,” Debby Wu reported for Bloomberg News.

The deal was designed to help OpenAI build data centers with a capacity of at least 10 gigawatts of power. (Photo: OpenAI X)

“It was never a commitment,” Huang told reporters in Taipei.

“They invited us to invest up to $100 billion and, of course, we were very happy and honored that they invited us, but we will invest one step at a time.”

As part of a letter of intent signed in September, Nvidia said it planned to invest as much as $100 billion in OpenAI to support new data centers and other artificial intelligence infrastructure.

The deal was designed to help OpenAI build data centers with a capacity of at least 10 gigawatts of power—equivalent to the peak electricity demand of New York City—equipped with Nvidia’s advanced chips to train and deploy AI models.

The Wall Street Journal reported on Friday that the investment plan announced in September had stalled after some inside Nvidia expressed doubts about the deal.

Citing unidentified people familiar with the matter, the Journal said Huang had privately emphasized that the $100 billion agreement was nonbinding, criticized what he described as a lack of discipline in OpenAI’s business approach, and expressed concern about competition.

Asked about the report suggesting he was unhappy with OpenAI, Huang said, “That’s nonsense.”