Nvidia CEO Jensen Huang said on Saturday that the company will "absolutely" participate in OpenAI's current financing round, but the investment amount will be "far from" $100 billion. Huang declined to disclose the exact amount of the investment, but added that it could be "our largest investment ever."
Huang Jenxun told reporters, "We will definitely participate in the next round of financing because this is a very good investment. We are happy to participate."
Nvidia and OpenAI announced in September that they had signed a letter of intent, with the former potentially investing up to $100 billion in the latter. It was previously reported that investment plans had stalled as some within Nvidia expressed doubts about the deal.
According to the announcement last September, the investment of up to $100 billion is aimed at supporting the construction of new data centers and other artificial intelligence infrastructure using Nvidia components. Their goal is to achieve 10 gigawatts of computing power, which is equivalent to New York City's peak electricity demand.
OpenAI is seeking to raise up to $100 billion in its current funding round. Reports emerged on Thursday that Amazon was in talks to invest up to $50 billion in OpenAI and expand a deal that would involve selling computing power to the artificial intelligence startup.