Five months later, Nvidia’s $100 billion OpenAI investment plan has fizzled out

In September 2025, Nvidia and OpenAI revealed plans for Nvidia to potentially invest as much as $100 billion into OpenAI’s AI infrastructure. Initially, both companies expressed optimism about finalizing the agreement shortly. However, five months later, no deal has materialized. Nvidia's CEO has since clarified that the $100 billion figure was never intended as a formal commitment. Reports indicate that OpenAI has been exploring alternative chip options due to dissatisfaction with the performance of some Nvidia chips for inference tasks, a crucial aspect where AI models generate responses to user inputs. This issue reportedly surfaced during the development of OpenAI’s Codex, an AI tool designed for code generation, with some limitations attributed to Nvidia’s GPU hardware. After a concerning Reuters report which led to a decline in Nvidia’s stock price, both companies have attempted to mitigate the situation publicly. OpenAI's CEO, Sam Altman, took to social media to express appreciation for Nvidia, emphasizing their collaboration and the quality of Nvidia’s AI chips. He stated, “We hope to be a gigantic customer for a very long time,” dismissing the surrounding speculation. The initial announcement outlined an ambitious project, highlighting a need for 10 gigawatts of Nvidia systems for OpenAI, which is equivalent to the power output of about ten nuclear reactors. Nvidia’s CEO, Jensen Huang, had previously indicated that this would align with Nvidia's total GPU shipments for the year, labeling it a substantial undertaking. However, as discussions progressed, Huang has tempered expectations regarding the investment figures. In recent comments made in Taiwan, he reiterated that the $100 billion was merely an invitation from OpenAI and that investments would be made gradually. “We are going to make a huge investment in OpenAI,” he affirmed, while clarifying that the proposed amount would not be as high as $100 billion, stating, “No, no, nothing like that.”