Nvidia CEO Says $100B OpenAI Investment 'Probably Not in the Cards'

Huang cites OpenAI's move toward an IPO as the reason a massive investment is unlikely.

Published on Mar. 5, 2026

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Nvidia CEO Jensen Huang says a $100 billion investment in OpenAI is "probably not in the cards" as the AI startup prepares for a potential IPO. Huang said Nvidia will instead focus on supplying the computing power OpenAI needs to train and run its AI models, noting "the revenues will more than follow." Huang also said Nvidia's $10 billion investment in OpenAI rival Anthropic "probably will be the last as well" as that company also moves toward going public.

Why it matters

Nvidia's partnership with OpenAI has been seen as crucial to the development of advanced AI systems, with the chipmaker providing the massive computing power needed. Huang's comments suggest a shift in Nvidia's strategy as OpenAI and other AI companies prepare to go public and seek funding from the public markets.

The details

Huang said at a Morgan Stanley conference that a $100 billion investment in OpenAI is "probably not in the cards" due to the startup's move toward an IPO. He said Nvidia has finalized a $30 billion investment agreement with OpenAI and that this "might be the last time we'll have the opportunity to invest in a consequential company like this." Huang added that Nvidia will focus on supplying the computing power OpenAI needs, saying "the revenues will more than follow." He also said Nvidia's $10 billion investment in OpenAI rival Anthropic "probably will be the last as well" as that company also prepares to go public.

  • On Wednesday, Huang spoke at a Morgan Stanley conference in San Francisco.

The players

Jensen Huang

The CEO of Nvidia, a leading manufacturer of graphics processing units (GPUs) that are crucial for training and running large AI models.

OpenAI

An artificial intelligence research company that has developed advanced language models like ChatGPT, and is a key customer for Nvidia's chips.

Anthropic

An AI research company that has developed the language model Claude, and is also preparing to go public.

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What they’re saying

“Just for everybody's update, we finalized our agreement. We're going to invest $30 billion in OpenAl.”

— Jensen Huang, CEO (Business Insider)

“This might be the last time we'll have the opportunity to invest in a consequential company like this.”

— Jensen Huang, CEO (Business Insider)

“The revenues will more than follow.”

— Jensen Huang, CEO (Business Insider)

What’s next

Nvidia and OpenAI have not provided a timeline for when OpenAI might go public, but Huang's comments suggest the potential $100 billion investment is unlikely to materialize as the AI startup prepares for an IPO.

The takeaway

Nvidia's partnership with OpenAI has been crucial for the development of advanced AI systems, but as OpenAI and other AI companies move toward going public, Nvidia is shifting its strategy to focus more on providing the computing power these companies need rather than making massive direct investments.