Jensen Huang clarifies: Never committed to a $10 billion investment in OpenAI; NVIDIA will evaluate step by step.

``` Nvidia CEO Jensen Huang clarified the nature of the previously announced plan to invest up to $100 billion in OpenAI, stating that "it was never a commitment" and that the company will "evaluate each round of funding individually." Speaking to reporters in Taipei, Taiwan on Sunday, Huang said, "It was never a commitment. They invited us to invest up to $100 billion. Of course, we are very happy and honored to be invited, but we will invest step by step." His remarks addressed external doubts about the execution of the investment plan. Previously, The Wall Street Journal reported on Friday that the investment plan announced in September had stalled, with some people inside Nvidia expressing doubts about the deal. The report cited insiders as saying that Huang had privately emphasized that the $100 billion agreement was non-binding and criticized OpenAI's business practices as lacking discipline. When asked if the report implied he was dissatisfied with OpenAI, Huang said on Saturday, "That's nonsense," adding, "I believe in OpenAI. The work they are doing is incredible. They are one of the most important companies of our time." Such circular investment arrangements continue to raise concerns in the market about the real demand for AI. Non-binding nature of the investment agreement According to the letter of intent signed in September, Nvidia planned to invest up to $100 billion in OpenAI to support new data centers and other AI infrastructure. The agreement aimed to help OpenAI build data centers with at least 10 gigawatts of capacity—equivalent to New York City's peak power demand—and to equip them with Nvidia's advanced chips for training and deploying AI models. Huang did not specify the exact amount the company might invest but described the investment as "huge." He added that Nvidia's investment in OpenAI's current funding round would be nowhere near $100 billion. On Saturday, Huang said, "We will invest a lot of money." According to The Wall Street Journal citing people familiar with the matter, Huang had privately emphasized that the $100 billion agreement was non-binding, criticized OpenAI's undisciplined business practices, and expressed concerns about competition. The report said some inside Nvidia doubted the deal, leading to a halt in the investment plan. Nvidia’s plan to invest in OpenAI—a key buyer of its advanced AI chips—has sparked concerns over the circular nature of AI transactions over the past year. Investors are increasingly questioning whether these partnerships—tech companies investing in AI firms that buy their products—could be artificially propping up demand. In another similar deal, Nvidia recently announced an additional $2 billion investment in cloud provider CoreWeave Inc., also a key customer. Risk warning and disclaimer The market has risks, and investments should be made cautiously. This article does not constitute personal investment advice, nor does it take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article suit their specific circumstances. Investment based on this is at your own risk. ```