Nvidia CEO Huang denies he is unhappy with OpenAI, says 'huge' investment planned

Nvidia  plans to make a “huge” investment into OpenAI, probably its largest ever, CEO Jensen Huang said on Saturday, denying he was unhappy with the ChatGPT maker.

The chipmaker in September announced plans to invest up to $100 billion in OpenAI, a deal that would give OpenAI the cash and access it needs to buy advanced chips that are key to maintaining its dominance in an increasingly competitive landscape.

The Wall Street Journal reported on Friday that the plan had stalled after some inside the chip giant expressed doubts about the deal.

The report said Huang had privately underlined to industry associates in recent months that the original $100 billion agreement was non-binding and not finalised.

Huang has also privately criticised what he has described as a lack of discipline in OpenAI’s business approach and expressed concern about the competition it faces from the likes of Alphabet’s GOOGL.O Google and Anthropic, the WSJ said.

Speaking to reporters in Taipei, Huang said it was “nonsense” to say he was unhappy with OpenAI.

“We are going to make a huge investment in OpenAI. I believe in OpenAI, the work that they do is incredible, they are one of the most consequential companies of our time and I really love working with Sam,” he said, referring to OpenAI CEO Sam Altman.

“Sam is closing the round (of investment) and we will absolutely be involved,” Huang added. “We will invest a great deal of money, probably the largest investment we’ve ever made.”

Asked whether it would be over $100 billion, he said: “No, no, nothing like that”.

It was up to Altman to announce how much he wanted to raise, Huang added.

Amazon is in talks to invest dozens of billions in OpenAI and the figure could be as high as $50 billion, Reuters reported on Thursday.

OpenAI is looking to raise up to $100 billion in funding, valuing it at about $830 billion, Reuters has previously reported.

Huang was speaking outside a Taipei restaurant having hosted all Nvidia’s key suppliers in Taiwan, including the world’s largest contract chipmaker TSMC, in what Taiwanese media called the “trillion-dollar dinner” because of the combined market capitalisation of those attending.