Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) is reportedly reconsidering its ambitious $100 billion investment plan in OpenAI, according to a Wall Street Journal report.
The report cited internal doubts at Nvidia regarding the size of the investment, OpenAI’s competitive positioning against rivals such as Google and Anthropic, and questions around the company’s business discipline.
The September 2025 memorandum, which aimed to provide OpenAI with up to 10 gigawatts of computing power, has reportedly encountered hurdles, with no definitive agreements reached.
Nvidia CEO Jensen Huang highlighted that the $100 billion figure was “non-binding” and “never a commitment,” while confirming that the company plans to participate in OpenAI’s next funding round at a smaller, carefully evaluated scale. He also denied criticizing OpenAI, praising the company’s work under CEO Sam Altman.
Hesitation centers on the size and strategic fit of the proposed investment, the WSJ said. A $100 billion commitment would represent roughly 53% of Nvidia’s $187 billion in trailing twelve-month revenue and nearly 89% of its $113 billion EBITDA. While Nvidia’s $4.65 trillion market capitalization technically supports such a deployment, internal deliberations suggest questions remain about potential returns and partnership dynamics.
Nvidia shares traded 1.3% lower at about $188 on the report.