Nvidia’s talks to invest up to $100 billion in OpenAI have failed, the report said. Wall Street Journalexposing possible friction between two of the most powerful companies in the artificial intelligence industry.
The discussions stalled after Nvidia insiders raised concerns about the transaction, according to the newspaper, citing unidentified people familiar with the deliberations. OpenAI develops the popular ChatGPT chatbot, while Nvidia dominates the market for AI processors that enable the development of this type of software.
The companies announced the agreement in September, saying at the time that they had signed a letter of intent for a strategic deal. The $100 billion would support new data centers and other AI infrastructure built with Nvidia components. The goal was to reach 10 gigawatts of computing capacity — equivalent to New York City’s maximum electricity demand.
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In a statement to Bloomberg News on Friday (30), Nvidia said: “We have been OpenAI’s preferred partner for the past 10 years. We look forward to continuing to work together.” The company did not comment on the status of negotiations.
An OpenAI representative did not immediately respond to a request for comment.
According to the Journal, the two parties are now reevaluating the partnership. In one scenario, Nvidia could invest tens of billions of dollars as part of OpenAI’s current funding round, according to the paper.
OpenAI seeks to raise up to US$100 billion in this round. Amazon.com Inc. is in talks to invest up to $50 billion and expand a deal that involves selling computing power to the AI startup, Bloomberg reported Thursday.
Nvidia has made other high-profile investments in AI companies. Earlier this week, it announced plans to invest another US$2 billion in CoreWeave Inc., a cloud computing provider that is also a client of the company.
This type of circular business — when a company invests in a business that buys its own product — has fueled concerns about the sustainability of the AI boom. Nvidia CEO Jensen Huang downplayed the criticism.
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After the agreement with CoreWeave, he stated that these investments represent a small portion of the total resources that companies will need to raise. “So the idea that this is circular is — it’s ridiculous,” he said.
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