Nvidia CEO pushes back against report that his company’s $100B OpenAI investment has stalled

Nvidia CEO Jensen Huang said Saturday that a recent report of friction between his company and OpenAI was “nonsense.”

Huang’s comments came after The Wall Street Journal published a story late Friday claiming as much Nvidia wanted to scale back its investments in Open AI. The two companies announced a plan in September that would see Nvidia invest up to $100 billion in OpenAI and also build 10 gigawatts of computing infrastructure for the AI ​​company.

However, the WSJ said that Huang has begun to emphasize that the deal is non-binding, and that he has also privately criticized OpenAI’s business strategy and raised concerns about competitors like Anthropic and Google.

Additionally, the WSJ reported that the two companies are reconsidering their relationship – although that doesn’t mean they should shut things down completely, with recent discussions reportedly focusing on an equity investment of just tens of billions of dollars from Nvidia.

An OpenAI spokesperson told the WSJ that the companies are “actively working through the details of our collaboration,” adding that Nvidia “has supported our breakthroughs from the beginning, powers our systems today, and will remain central to scaling what comes next.”

According to Bloomberg, reporters asked Huang about the report during a visit to Taipei. In response to this he insisted that Nvidia “will definitely participate” in OpenAI’s latest funding round “because it’s such a good investment.”

“We will invest a lot of money,” Huang said. “I believe in OpenAI. The work they do is incredible. They are one of the most consequential companies of our time.”

He apparently declined to specify how much Nvidia would invest, saying instead: “Please [OpenAI CEO Sam Altman] announce how much he will raise – it is up to him to decide.”

The WSJ reported in December that OpenAI is looking to raise a $100 billion funding round, while The New York Times said this week that Nvidia, Amazon, Microsoft and SoftBank are all in talks potential investments.