A recent Wall Street Journal report claimed that Nvidia’s plan to invest up to $100 billion in OpenAI “has stalled after some inside the chip giant expressed doubts about the deal.” Nvidia CEO Jensen Huang had said this weekend that the $100 billion OpenAI investment was “never a commitment,” effectively confirming this report.
The WSJ report also indicated that Huang has also “privately criticized” what he has described as “a lack of discipline” in OpenAI’s business approach and expressed concern about the competition it faces from the likes of Google and Anthropic. Huang denied the claims that he was unhappy with OpenAI, calling it “nonsense,” but reiterated that the investment won’t be over $100 billion.
“We are going to make a huge investment in OpenAI. I believe in OpenAI, the work that they do is incredible, they are one of the most consequential companies of our time, and I really love working with Sam,” he said referring to OpenAI’s CEO Sam Altman.
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Nvidia said in September 2025, it planned to invest approximately $100 billion in artificial intelligence firm OpenAI under a new partnership. According to Reuters, the two firms revealed a letter of intent outlining a major strategic alliance, which includes plans to provide OpenAI with a minimum of 10 gigawatts of Nvidia chips to power its AI infrastructure. This deal was considered a transformative moment not only for the two companies involved but also for the entire semiconductor industry, AI development, and global technology ecosystems.
According to Sherwood, the latest development comes as Nvidia wants the world to know that they are not going to be over-reliant on OpenAI. The outlet also claims that the partnership between the two companies “clearly stalled” because there was no progress. Nvidia has been shying away from talking about the $100 billion figure for a while.
While both the Q3 10-Q filing and CFO Colette Kress on the earnings call referenced an “opportunity” to invest in OpenAI, there was no mention of the $100 billion figure. This stands in contrast with the more formalized agreement to pour $10 billion into Anthropic.
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The filing noted that “there is no assurance that we will enter into definitive agreements with respect to the OpenAI opportunity or other potential investments, or that any investment will be completed on expected terms, if at all.”
Nvidia’s shares dipped in premarket trading after the deal with OpenAI was called into question. Sarah Kunst, managing director at Cleo Capital, told CNBC’s “Worldwide Exchange” on Monday that a cause for concern with regard to shares was uncertainty over the exact amount that would be invested in OpenAI.
“One of the things I did notice about Jensen Huang is that there wasn’t a strong ‘It will be $100 billion.’ It was, ‘It will be big. It will be our biggest investment ever.’ And so I do think there are some question marks there… that kind of back and forth isn’t normal between an investor and a startup to play out in the media,” Kunst added.