Speculation around Nvidia’s investment plans in OpenAI was firmly addressed this weekend, as the company’s chief executive dismissed reports of hesitation and reaffirmed a strong financial commitment to the AI company.
Speaking to journalists in Taipei late Saturday, Nvidia CEO Jensen Huang said the company is moving ahead with what he described as a “huge” investment in OpenAI. His comments came after a newspaper report claimed Nvidia’s proposed investment of up to $100 billion had been paused and that there were internal concerns about the partnership.
Nvidia had announced in September its plan to invest $100 billion in OpenAI, with a focus on building infrastructure for next-generation artificial intelligence. The recent report, citing unnamed sources, suggested that some employees within Nvidia had raised doubts and that both companies were reassessing the deal.
Responding directly to those claims, Huang said, “That’s complete nonsense. We are going to make a huge investment in OpenAI.” He also rejected suggestions that he was unhappy with the generative AI company.
Huang went on to underline OpenAI’s importance in the global technology landscape, calling it “one of the most consequential companies of our time”. He confirmed Nvidia’s participation in OpenAI’s ongoing fundraising efforts, adding, “Sam is closing the round, and we will absolutely be involved in the round.”
“We will invest a great deal of money, probably the largest investment we’ve ever made,” Huang said, referring to OpenAI chief executive Sam Altman.
Nvidia currently dominates the market for processors used to train and operate large language models behind popular chatbots such as ChatGPT and Google Gemini. Its graphics processing units, originally designed for 3D gaming, have become essential for AI development.
Strong demand for these chips pushed Nvidia’s market capitalisation to over $5 trillion in October, although the valuation has since dropped by more than $600 billion.
AI developers like OpenAI continue to channel large portions of their funding into Nvidia’s hardware. These investments are being used to rapidly build data centres packed with GPUs, as companies prepare for a surge in demand for AI-powered services worldwide.
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