(Bloomberg) — Nvidia CEO Jensen Huang doesn’t see his company’s investment in OpenAI reaching $100 billion — the maximum amount the chip giant had previously promised to spend on the startup.
“I think the opportunity to invest $100 billion in OpenAI is probably not in the cards,” Huang said, citing OpenAI’s plans to go public, possibly by the end of the year. “So this may be the last time we have the opportunity to invest in a consequential company like this.”
Nvidia contributed $30 billion to a massive $100 billion funding round for OpenAI last month, which valued the ChatGPT creator at $730 billion. While it was the chipmaker’s biggest single bet on a startup to date, the investment fell well short of the up to $100 billion in funding the company had promised to consider as part of a pact with OpenAI in September.
The smaller-than-anticipated investment fueled concerns about souring relations between the leading AI company and the world’s most dominant chipmaker, but Huang on Jan. 31 described OpenAI’s work as “incredible” and called the firm “one of the most consequential companies of our time.”
OpenAI declined to comment on Huang’s remarks.
Huang said Nvidia’s recent $10 billion investment in OpenAI rival Anthropic will also “likely be the last” at that company. Anthropic also laid the groundwork for its own initial public offering (IPO).
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