Nvidia's $100 billion OpenAI deal has seemingly vanished

TL;DR

Nvidia's proposed $100 billion investment in OpenAI's AI infrastructure, announced in September 2025, is no longer considered a firm commitment by Nvidia's CEO.
OpenAI has been seeking alternatives to Nvidia chips since last year, citing dissatisfaction with the speed of Nvidia's GPUs for inference tasks, as reported by Reuters.
OpenAI has secured AI computing capacity deals with Cerebras ($10 billion) and AMD (six gigawatts), and plans to develop a custom AI chip with Broadcom to reduce reliance on Nvidia.
Nvidia CEO Jensen Huang has referred to the $100 billion figure as an "up to" invitation and stated Nvidia will "invest one step at a time," though he indicated a "huge investment" is still planned.
Reports suggest Nvidia insiders had doubts about the transaction, and the CEO privately expressed concerns about OpenAI's business approach and competition from Google and Anthropic.

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