NVIDIA-OpenAI $100 Billion Investment: From Withdrawal Rumors to Reaffirmation

On Friday, January 31st, The Wall Street Journal dropped a bombshell. NVIDIA's $100 billion investment plan in OpenAI had effectively been put on hold. CEO Jensen Huang had reportedly been telling industry insiders for months that 'the investment agreement is non-binding and not finalized.'

But just hours later, Jensen Huang appeared before reporters at a 'trillion-dollar dinner' in Taipei. He dismissed the report with one word: 'Nonsense.'

WSJ Report Exposes Internal Skepticism at NVIDIA

According to WSJ, skepticism about the massive OpenAI investment had been growing inside NVIDIA. The report claimed Jensen Huang had privately criticized what he described as a 'lack of discipline in OpenAI's business approach.' Concerns about competition from Google (Alphabet) and Anthropic were also mentioned.

The memorandum of understanding (MOU) announced by NVIDIA and OpenAI in September 2025 outlined investments of up to $100 billion to build data centers capable of 10 gigawatts—equivalent to New York City's peak electricity demand. But the WSJ report suggested this plan had made little real progress.

Jensen Huang's Immediate Rebuttal: 'It Will Be Our Largest Investment'

That same day in Taipei, after hosting a dinner with key partners including TSMC, Jensen Huang spoke firmly to reporters.

"It's nonsense to say I'm unhappy with OpenAI. We're going to make a huge investment in OpenAI. The work they do is incredible, they're one of the most consequential companies of our time, and I really love working with Sam."

Huang added, "Sam is closing the funding round, and we will absolutely be involved. It will probably be the largest investment we've ever made."

The Critical Words: 'Nothing Like $100 Billion'

However, Jensen Huang's statement contained a subtle nuance. When asked if the investment would exceed $100 billion, he replied:

"No, no. Nothing like that."

While he deferred to Sam Altman to announce the specific amount, the phrase 'nothing like $100 billion' speaks volumes. It suggests that the originally announced $100 billion infrastructure investment may be significantly scaled back.

Amazon Also in Talks for Up to $50 Billion Investment

Meanwhile, Bloomberg reported that Amazon is in talks to invest up to $50 billion in OpenAI and expand its cloud computing power agreement. OpenAI is currently conducting a $100 billion funding round, which would value the company at approximately $830 billion if successful.

Besides NVIDIA and Amazon, several other Big Tech companies have shown interest in investing in OpenAI. Yet this incident demonstrates that even amid AI investment fever, cool business judgment prevails.

Conclusion: Investing Yes, But Renegotiating the Scale

Here's the summary of the 24-hour drama: NVIDIA will 'absolutely' invest in OpenAI, and it will be their 'largest investment ever.' However, the $100 billion infrastructure investment plan announced in September 2025 appears to be under renegotiation.

Jensen Huang's statement was a masterful crisis management move—reaffirming trust in OpenAI while simultaneously adjusting expectations about the investment scale. Even the world's top AI chip company is signaling that it won't pursue a strategy of 'pouring unlimited cash' into AI, despite the market's explosive growth.

Some observers are now questioning whether this signals a subtle shift in OpenAI's standing within the industry. Is OpenAI—the company that ushered in the AI era with ChatGPT—still 'the most consequential AI company,' or is its position being reassessed amid intensifying competition from Google, Anthropic, and others? It's worth watching closely.