Nvidia CFO Says $100 Billion OpenAI Investment Plan Still Not Finalized

Nvidia signals that its headline-making multibillion-dollar investment proposal with OpenAI remains under negotiation, as the chipmaker navigates growing scrutiny over large AI-ecosystem partnerships and expanding demand for advanced computing power.

Nvidia has clarified that its proposed investment of up to $100 billion into OpenAI is still not finalized, despite widespread industry attention on the potential scale and implications of the arrangement.

The company’s chief financial officer, Colette Kress, addressed the topic at a major technology and AI conference, saying discussions with the AI startup are ongoing and no definitive agreement has yet been completed.

Kress’ remarks come at a time when the relationship between major chipmakers and leading AI developers is increasingly under the spotlight, particularly as companies form deep, interdependent partnerships.

The proposed deal between Nvidia and OpenAI has drawn significant attention given the size of the potential investment and the growing influence of both companies in the global artificial intelligence landscape.

The initial framework outlined earlier this year involved a letter of intent signaling Nvidia’s readiness to deploy at least 10 gigawatts of computing capacity for OpenAI’s future infrastructure.

This scale of deployment is comparable to the energy needed to power millions of U.S. homes, reflecting the enormous computing requirements behind the next generation of AI systems.

Kress noted that Nvidia is actively working with OpenAI but emphasized that several elements of the agreement remain under negotiation.

The company has not disclosed further details about timelines or structural terms, maintaining a conservative tone around expectations for when the deal might be finalized.

OpenAI, which accelerated global interest in generative AI with the launch of ChatGPT in 2022, remains one of Nvidia’s most significant customers.

Its demand for high-performance chips has grown along with the rising number of companies building AI-driven systems that rely on large-scale computing clusters powered by Nvidia hardware.

Nvidia has previously confirmed that it has around $500 billion in chip bookings through 2026, reflecting escalating industry demand for advanced GPUs and AI-focused accelerators.

However, Kress stated that any eventual commitments tied to the OpenAI agreement are not yet included in that figure, suggesting potential for substantial additional orders if the partnership is finalized.

She noted that none of the future OpenAI allocations are part of the current half-trillion-dollar forecast, underscoring the potential scale of future demand linked to the deal.

Investors responded positively, with Nvidia’s share price rising during the session following the remarks.

The chipmaker has been expanding its involvement across the AI startup ecosystem over the past year, supporting new players and forming partnerships aimed at accelerating AI development across industries.

This has also led to concerns among some analysts about the risk of circular financing, where companies simultaneously supply, invest in and depend on the same partners for revenue.

Nvidia recently announced plans to commit up to $10 billion to Anthropic, another major player in the AI sector and a direct competitor to OpenAI.

That investment, too, could meaningfully expand Nvidia’s future bookings, further reinforcing the company’s role at the center of the rapidly scaling AI infrastructure supply chain.

Industry observers say the chipmaker’s rising influence reflects the central position of high-performance GPUs in modern AI development.

As companies seek greater computing capacity to train and deploy increasingly complex models, partnerships with hardware providers have become essential to scaling.

While the proposed $100 billion OpenAI agreement has generated intense public interest, Nvidia’s cautious stance suggests that many variables remain under evaluation.

Finalizing such a deal would not only cement a high-profile alliance but could also reshape competition across the AI ecosystem as companies race to secure long-term access to advanced processing power.

For now, Nvidia continues to indicate strong demand across the sector and growing orders from major cloud providers and AI developers.

Its ongoing negotiations with OpenAI highlight the evolving dynamics of the industry, where multibillion-dollar technology partnerships are becoming critical to meeting global expectations for the next generation of artificial intelligence.