The Reuters article, citing a Wall Street Journal report from late January 2026, reveals that Nvidia’s ambitious plan to invest up to $100 billion in OpenAI has stalled. This follows a non-binding letter of intent announced in September 2025, aimed at providing OpenAI with massive funding and priority access to Nvidia’s advanced AI chips for training and running next-generation models.
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Stalled Mega-Deal Amid Internal Doubts
Internal concerns at Nvidia have halted progress on the full $100 billion commitment. Nvidia CEO Jensen Huang has privately described the original agreement as non-binding and not finalized. He has also voiced criticisms about OpenAI’s business discipline and highlighted competitive pressures from rivals like Google (Alphabet) and Anthropic.
Discussions have shifted toward a smaller equity investment—potentially in the tens of billions—as part of OpenAI’s ongoing funding round, which seeks up to $100 billion overall at a valuation around $830 billion. The partnership, long-standing with Nvidia as OpenAI’s preferred chip supplier for a decade, is now under reevaluation by both sides.
Broader AI Investment Landscape
The stall reflects intensifying competition in AI infrastructure. OpenAI faces heavy spending demands for data centers and chips amid rivalry from other players. Other investors, including Amazon (in talks for up to $50 billion) and SoftBank, are pursuing ties with OpenAI to gain edges in the AI race.
Nvidia emphasized its continued collaboration, stating it has been OpenAI’s preferred partner for 10 years and looks forward to ongoing work. Huang later denied unhappiness with OpenAI, affirming a “huge” investment—likely Nvidia’s largest ever—would still occur in the current round, though “nothing like” $100 billion.
This development underscores the high-stakes, fast-evolving nature of AI partnerships, where massive bets on dominance can face scrutiny over risks, strategy, and execution.