Nvidia, OpenAI make U-turn on $100 billion deal; Huang-led company to invest $30 billion in ChatGPT maker — Key details

Nvidia is close to completing a $30 billion deal with Sam Altman’s OpenAI to replace the $100 billion long-term commitment the companies signed last year as part of a major new funding round for the artificial intelligence company, the Financial Times reported.

Nvidia and OpenAI, led by Jensen Huang, will no longer continue the multi-year investment plan they announced in September last year, according to FT, citing people with knowledge of the matter.

Here are the important things you need to know about the new Nvidia-OpenAI deal.

What to know about the OpenAI Nvidia deal

The deal between OpenAI and Nvidia, which will be part of a new funding round for the AI ​​start-up, could be finalized as early as this weekend, according to the FT report.

The report, based on knowledgeable sources, stated that Nvidia, the world’s most valuable company, is in the final stage of negotiations.

Nvidia’s $30 billion equity investment will form part of a larger financing round that is on track to raise $100 billion to take the ChatGPT maker’s value to $730 billion, excluding new money, the report said.

ChatGPT maker OpenAI plans to raise up to $100 billion in its latest funding round, valuing it at around $830 billion. Reuters He reported in January.

The FT report also noted that OpenAI will reinvest much of its new capital into Nvidia’s hardware. However, the companies will not proceed with the $100 billion deal announced last year.

LLM developers like OpenAI direct most of the massive investment they receive towards Nvidia products.

The U-turn on the deal, which was announced amid much rumors in September 2025, comes amid tensions among investors over the health of the artificial intelligence industry, which has triggered a 17% decline in US technology stocks since the beginning of this year.

Last year’s Nvidia-OpenAI deal was announced as a “letter of intent” but was never finalized. This was a turning point in the AI ​​industry; It closely connected the pioneering companies at the heart of the AI ​​boom, pushing the Jensen Huang-led company above $5 trillion in market capitalization a few weeks later.

OpenAI and Nvidia have not released any official statements regarding the new agreement or the termination of the old agreement.

But in January, The Wall Street Journal reported that the $100 billion deal was “on ice.”

The deal was replaced by a $30 billion investment from Nvidia, in which the chipmaker would invest $30 billion in exchange for OpenAI stock.

Sam Altman and Jensen Huang tried to ignore reports that relations between OpenAI and Nvidia had cooled.

“We love working with Nvidia and they make the best AI chips in the world. We expect to be a huge customer for a very long time,” Altman posted on X earlier this month.

Nvidia CEO Jensen Huang has insisted the US tech giant will make a “major” investment in OpenAI and described reports that he was unhappy with the prolific AI star as “ridiculous”.