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Nvidia CEO Denies Reports of Scaling Back OpenAI Investment

Nvidia CEO Jensen Huang is pushing back hard against a report that suggests his company is getting cold feet about investing in OpenAI. Speaking to reporters during a visit to Taipei on Saturday, Huang called the recent Wall Street Journal story claiming friction between the two companies complete nonsense and insisted that Nvidia will definitely participate in OpenAI’s latest funding round.

The Journal had published a story late Friday saying Nvidia was looking to scale back its investment in OpenAI, even though the two companies announced a massive plan back in September for Nvidia to invest up to $100 billion and build 10 gigawatts of computing infrastructure for the AI company. According to the report, Huang has started emphasizing that the deal isn’t binding and has privately criticized OpenAI’s business strategy while expressing concerns about competitors like Anthropic and Google. The paper also said the two companies are now discussing a much smaller equity investment of just tens of billions of dollars instead of the original plan.

Huang wasn’t having any of it. He mentioned that Nvidia will invest a great deal of money in OpenAI because it’s such a good investment, calling the company’s work incredible and describing OpenAI as one of the most consequential companies of our time. He didn’t specify exactly how much Nvidia would be putting in, saying that’s for OpenAI CEO Sam Altman to announce when he’s ready.

OpenAI also weighed in on the controversy, telling the Wall Street Journal that the two companies are actively working through the details of their partnership. The company emphasized that Nvidia has been crucial from the start, powers their systems today, and will remain central as they continue to scale. That’s a pretty strong vote of confidence, even if it does acknowledge that some details are still being hammered out.

The whole dust-up comes as OpenAI is reportedly trying to raise a $100 billion funding round, which would be one of the largest in tech history. According to recent reports, Nvidia isn’t the only potential investor in the mix. Amazon, Microsoft, and SoftBank are all reportedly in discussions about participating in the round. With that much money and that many big players involved, it makes sense that negotiations would be complex and that details might shift as conversations continue. Whether Nvidia ends up investing the full $100 billion or something smaller, it’s clear from Huang’s comments that the partnership is far from over.