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NVIDIA’s previously announced plan to invest up to $100 billion in OpenAI has stalled, according to a report in The Wall Street Journal, marking a significant development in the landscape of AI infrastructure financing.
The original agreement, unveiled in September 2025, envisioned NVIDIA building out at least 10 gigawatts of AI computing capacity and making a multiyear capital commitment of as much as $100 billion to support OpenAI’s expansion of data centers and next-generation artificial intelligence models.
Recent discussions between the two companies have shown that those plans are no longer advancing as originally conceived. Insiders say NVIDIA CEO Jensen Huang has privately downplayed the likelihood that the full $100 billion deal will be finalized and pointed to concerns about OpenAI’s strategic discipline and competitive dynamics with rivals like Google and Anthropic.
Reports indicate that the partners are now exploring alternate structures, including a smaller equity investment worth tens of billions of dollars, rather than the all-encompassing megadeal previously discussed. NVIDIA has emphasized its longstanding partnership with OpenAI and said it still intends to work with the AI developer, even if the investment scale changes.
The shift comes as OpenAI is in active talks with several major tech players to build a new funding round that could still reach its ambitious $100 billion target. Financial outlets report that companies such as Microsoft, Amazon, and NVIDIA itself could contribute to a combined investment package in the tens of billions of dollars, rather than a single massive commitment.
Amazon is reportedly discussing a potential investment of up to $50 billion in OpenAI, which would make it a leading contributor if finalized, while NVIDIA’s portion may be reduced to around $20 billion under the revised plan. Microsoft, which already owns a 27% stake in OpenAI, could also increase its contribution.
OpenAI’s goal of deploying massive data centers, collectively known as the Stargate project with partners including SoftBank, Oracle, and others, relies heavily on immense capital required for advanced AI compute capacity.
Despite the change in plans, NVIDIA’s importance to AI hardware ecosystems remains undiminished. The chipmaker continues to dominate the market for AI processors that power large language models and other systems. NVIDIA shares showed slight volatility in response to the news, reflecting investor sensitivity around future growth prospects tied to AI and OpenAI’s upcoming potential IPO.
Both NVIDIA and OpenAI have yet to give out public statements.
