NVIDIA CEO Rules Out Possibility of $100 Billion Investment in OpenAI

Deep News03:50

NVIDIA CEO Jensen Huang stated that he does not anticipate the company's investment in OpenAI reaching $100 billion—the maximum amount the chipmaker had previously committed to consider for the startup.

"I believe the opportunity to invest $100 billion in OpenAI may no longer exist," Huang remarked, attributing this to OpenAI's plans for a public listing, which could occur before the end of the year. "Therefore, this might be our last chance to invest in such an influential company."

Last month, NVIDIA contributed $30 billion to OpenAI's $100 billion funding round, valuing the ChatGPT developer at $73 billion. Although this represents NVIDIA's largest single investment in a startup to date, it falls significantly short of the company's earlier pledge when it reached an agreement with OpenAI in September, at which time it indicated it might invest up to $100 billion.

Huang also noted that NVIDIA's recent $10 billion investment in OpenAI competitor Anthropic will likely be its final investment in that company as well. Anthropic is similarly preparing for its own initial public offering.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment