Nvidia Corporation CEO Jensen Huang clarified on February 1, 2026, that the company’s proposed $100 billion investment in OpenAI was “never a commitment” and that Nvidia would consider funding rounds “one at a time.” The statement comes after reports suggested the massive AI infrastructure deal had stalled due to internal concerns at Nvidia.
Details of the Investment Clarification
Speaking to reporters in Taipei on Sunday, Huang addressed speculation about the status of Nvidia’s relationship with OpenAI. “It was never a commitment,” Huang stated. “They invited us to invest up to $100 billion and of course, we were very happy and honored that they invited us, but we will invest one step at a time.”
The clarification follows a Wall Street Journal report on Friday suggesting that the investment plan announced in September had stalled after some inside Nvidia expressed doubts about the deal. The report cited concerns about OpenAI’s business discipline and potential competition issues.
Industry Impact
The original agreement, outlined in a letter of intent signed in September 2025, was designed to help OpenAI build data centers with a capacity of at least 10 gigawatts of power—equivalent to the peak electricity demand of New York City. These facilities would be equipped with Nvidia’s advanced chips to train and deploy AI models.
Despite the clarification, Huang emphasized Nvidia’s continued support for OpenAI, describing the potential investment as “huge” and potentially “the largest investment we’ve ever made.” However, he noted that Nvidia’s contribution to OpenAI’s current funding round wouldn’t approach the full $100 billion figure.
Expert Analysis
The investment relationship between Nvidia and OpenAI has raised concerns about the circular nature of AI deals in the industry. Investors are increasingly questioning how partnerships where tech companies invest in AI businesses that purchase their products may be artificially propping up demand.
Industry analysts note that similar arrangements exist throughout the AI ecosystem, with Nvidia recently announcing plans to invest an additional $2 billion in CoreWeave Inc., another cloud computing provider that’s also a key customer for Nvidia’s AI chips.
Market Response
Nvidia shares declined 0.72% following the news, reflecting investor uncertainty about the company’s AI investment strategy. The clarification comes at a critical time for both companies, as OpenAI continues to raise significant funding to support its AI development and infrastructure expansion.
The AI infrastructure market has seen unprecedented investment levels, with companies racing to secure the computing power necessary for training and deploying large language models. Nvidia’s position as the dominant supplier of AI chips makes its investment decisions particularly significant for the broader industry.
What This Means
Huang’s comments suggest a more cautious approach to AI investments than previously indicated, with Nvidia evaluating opportunities on a case-by-case basis rather than committing to massive upfront investments. This shift could signal broader changes in how AI infrastructure deals are structured.
The clarification also highlights the complex relationships between AI chip suppliers and their customers, as companies navigate the balance between supporting ecosystem growth and maintaining competitive positioning. For OpenAI, the news means continued uncertainty about securing the massive infrastructure investments needed for its expansion plans.
Industry observers will be watching closely to see how this development affects other major AI infrastructure partnerships and whether it signals a broader cooling of the AI investment boom that has characterized the past two years.
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