FX.co ★ Nvidia dismisses rumors, affirms commitment to OpenAI investment

Nvidia CEO Jensen Huang stated that the company will continue its substantial investments in OpenAI, refuting reports of dissatisfaction with the ChatGPT developer’s strategy.

Speaking to reporters in Taipei on Saturday, Huang called such assertions “nonsense,” emphasizing that Nvidia still views OpenAI as one of the key players in the technology sector.

“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,” Huang declared.

In September, Nvidia announced plans to invest up to $100 billion in OpenAI. The potential deal was intended to provide OpenAI with funding and access to cutting-edge graphic processors necessary to maintain a competitive edge in artificial intelligence.

Last week, however, The Wall Street Journal reported that negotiations had stalled amid internal doubts over the deal’s terms. According to the media outlet, Huang indicated in private conversations with industry participants that previously discussed investment parameters were nonbinding and not final.

The WSJ also reported that Huang expressed concerns about the level of management discipline at OpenAI, as well as growing competition from Google and Anthropic.

In response to these reports, Huang confirmed Nvidia’s participation in the current investment round for OpenAI. He stated that this round is being formed under the leadership of OpenAI CEO Sam Altman, and Nvidia intends to commit a “significant amount” that could represent the company’s largest investment in its history.

That said, Huang clarified that the total investment would not exceed $100 billion. He noted that OpenAI would announce the final size of the round at a later date.