Jensen Huang Says NVIDIA Has No Obligation to Invest $100B in OpenAI

OpenAI was projected to lose up to $14 billion this year, a reality that helps explain why the company sought funding from major tech players. Recent speculation centered on NVIDIA, but the company’s CEO has now publicly clarified its position.

As reported by Bloomberg, Jensen Huang said NVIDIA never made a formal or binding commitment to invest $100 billion in OpenAI. He stressed that NVIDIA holds no obligation to move forward with such an investment.

The $100 billion figure was never guaranteed, NVIDIA CEO claims

The widely cited $100 billion number came from a nonbinding letter of intent announced in September 2025. That document stated NVIDIA could invest up to that amount, but only under specific conditions.

Huang explained that OpenAI invited NVIDIA to invest incrementally, not as a single lump sum. He said NVIDIA prefers to make funding decisions “one step at a time,” rather than committing to the full figure upfront.

At the time, OpenAI described the plan as a gradual investment tied to each gigawatt of deployed AI infrastructure capacity.

Despite early optimism, the proposed partnership now appears uncertain. Industry reports suggest some NVIDIA insiders have expressed doubts, with discussions failing to move beyond early stages.

More recent talks reportedly involve a far smaller equity investment, possibly in the tens of billions of dollars, as part of OpenAI’s current funding round. The same reporting claims Huang criticized what he described as a lack of discipline in OpenAI’s business strategy.

NVIDIA leadership has also raised concerns about OpenAI’s growing competition from rivals such as Google and Anthropic. Some OpenAI products have struggled to maintain momentum, including signs of reduced attention around its Sora AI video tool, reinforcing investor caution.

In parallel, OpenAI has announced plans to retire several older GPT models and focus development on its latest systems, signaling a strategic reset as it navigates funding challenges.

Via Neowin