Fresh talks signal deeper strategic ties
Nvidia is in discussions to invest as much as $30 billion in OpenAI in a new fundraising round that could value the artificial intelligence company at a pre-money valuation of $730 billion. The potential transaction, which remains under negotiation, would represent one of the largest strategic investments in the history of the technology sector.
According to a source familiar with the talks, the proposed $30 billion commitment would stand apart from a previously announced $100 billion infrastructure framework between the two companies. Importantly, the new investment under discussion would not be linked to specific deployment milestones tied to computing infrastructure.
Separate from prior infrastructure pact
In September, Nvidia and OpenAI unveiled a long-term arrangement outlining staged investments aligned with the development of large-scale supercomputing facilities. Under that structure, Nvidia was expected to deploy capital over multiple years, beginning with an initial tranche once new gigawatt-scale capacity came online.
The possible $30 billion equity investment now under review differs from that earlier blueprint, although future participation in additional rounds could still follow elements of the infrastructure partnership framework.
Nvidia declined to comment publicly on the latest discussions.
Uncertainty surrounding earlier commitments
The status of the previously announced $100 billion infrastructure agreement has drawn scrutiny in recent months. Reports earlier this year suggested parts of the initiative had been paused, prompting questions about the scope and timing of capital deployment.
In past financial disclosures, Nvidia cautioned that there was no guarantee definitive agreements would be reached regarding OpenAI or other potential investments. Despite that language, company leadership has expressed continued confidence in the relationship. Nvidia CEO Jensen Huang recently stated publicly that he expects Nvidia to participate in OpenAI’s next funding round.
OpenAI CEO Sam Altman has also downplayed speculation of tensions, emphasizing the importance of collaboration between the companies.
Broader funding effort underway
OpenAI is reportedly holding parallel discussions with additional investors as part of what could become a funding round totaling roughly $100 billion. The structure may involve an initial phase led by strategic technology partners such as Nvidia, Amazon and Microsoft, followed by participation from a wider group of financial backers.
Negotiations have accelerated, though terms remain fluid and subject to revision before any formal announcement.
AI capital race intensifies
If completed, the investment would underscore the expanding capital demands of advanced AI development and the strategic imperative for leading semiconductor providers to secure close partnerships with frontier model developers. For Nvidia, deepening its financial exposure to OpenAI would further entrench its role at the center of the generative AI ecosystem.
At the same time, the scale of the valuation signals investors’ expectations that AI infrastructure and software platforms will command a dominant share of technology spending in the coming decade.