Nvidia (NASDAQ:NVDA) is moving ahead with plans for a major investment in OpenAI, which CEO Jensen Huang described as “huge” and potentially the largest the company has ever made, pushing back against reports suggesting tensions with the ChatGPT developer.
Speaking to reporters in Taipei on Saturday, Huang rejected suggestions that he was unhappy with OpenAI, calling such claims “nonsense,” according to reports from Reuters and Bloomberg.
“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,” Huang said.
Nvidia revealed in September that it was considering investing as much as $100 billion in OpenAI, a move that would provide the AI group with substantial funding as well as access to Nvidia’s advanced chips, seen as critical to maintaining its technological lead.
However, The Wall Street Journal reported on Friday that the proposed investment had run into delays, citing uncertainty around the structure of the deal. The report said Huang had privately told industry contacts in recent months that the original $100 billion arrangement was not binding and had yet to be finalized.
According to the WSJ, Huang had also privately voiced concerns about what he viewed as a lack of business discipline at OpenAI and flagged rising competition from rivals such as Alphabet’s Google and Anthropic.
Responding to those reports, Huang confirmed that Nvidia would take part in OpenAI’s current funding round. “Sam is closing the round and we will absolutely be involved,” he said. “We will invest a great deal of money, probably the largest investment we’ve ever made.”
When asked whether the investment would exceed $100 billion, Huang was clear: “No, no, nothing like that.” He added that announcing the total amount being raised would be up to OpenAI CEO Sam Altman.