Nvidia CEO pushes back against reports that his company’s $100 billion OpenAI investment is stalling

Nvidia CEO Jensen Huang said Saturday that recent reports about friction between the company and OpenAI are “nonsense.”

Huang’s comments came after the Wall Street Journal published an article late Friday claiming that Nvidia was looking to scale back its investment in OpenAI. The companies announced in September that NVIDIA plans to invest up to $100 billion in OpenAI and build 10 gigawatts of computing infrastructure for the AI ​​company.

But the Journal reported that Huang has begun to stress that the deal is not binding, and has also privately criticized OpenAI’s business strategy and expressed concerns about competitors such as Anthropic and Google.

WSJ also reported that the two companies are reconsidering their relationship. However, that doesn’t mean they’re cutting ties completely, with recent talks reportedly focusing on a mere tens of billions of dollars in equity investment from Nvidia.

An OpenAI spokesperson told the Journal that the two companies are “actively working on the details of our partnership,” adding that Nvidia “has supported our progress from the beginning, strengthens our systems today, and will continue to be central to our future expansion.”

According to Bloomberg, reporters asked Hwang about the report during a visit to Taipei. In response, he claimed that NVIDIA would “definitely participate” in OpenAI’s latest funding round because “it’s a very good investment,” according to Bloomberg.

“We are going to invest a huge amount of money,” Huang said. “I believe in OpenAI. The work they do is incredible. They are one of the most influential companies of our time.”

He declined to say how much NVIDIA would invest, instead saying, “Let’s let[OpenAI CEO Sam Altman]announce how much he’s going to raise. That’s for him to decide.”

The Journal reported in December that OpenAI was considering raising $100 billion in funding, while the New York Times reported this week that Nvidia, Amazon, Microsoft, and SoftBank were in talks about possible investments.