TAIPEI, Jan 31 (Reuters) – Nvidia plans to make a “huge” investment in OpenAI, likely the largest in its history, Chief Executive Jensen Huang said on Saturday, denying he was unhappy with the ChatGPT maker.
In September, the chipmaker 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 within the chip giant expressed doubts about the deal.
The report said Huang had privately stressed to industry associates in recent months that the original $100 billion deal was non-binding and not finalized.
Huang also privately criticized what he described as a lack of discipline in OpenAI’s business approach and expressed concern about the competition it faces from companies such as Alphabet’s Google and Anthropic, the WSJ said.
Speaking to reporters in Taipei, Huang said it was “nonsense” to say he was dissatisfied with OpenAI.
“We’re going to make a big investment in OpenAI. I believe in OpenAI, ‌the work they do is incredible, they’re one of the most important companies of our time and I really love working with Sam,” he said, referring to OpenAI CEO Sam Altman.
“Sam is closing the (investment) round and we will absolutely be involved,” Huang added. “We will invest a large amount of money, probably the largest investment we have ever made.”
When asked if it would be more than $100 billion, he said: “No, no, nothing like that.”
It’s up to Altman to announce how much he wants to raise, Huang added.
Amazon is in talks to invest tens of billions in OpenAI and the figure could reach $50 billion, Reuters reported on Thursday.
OpenAI is looking to raise up to $100 billion in funding, valuing it at around $830 billion, Reuters previously reported.
Huang was speaking outside a Taipei restaurant, having hosted all of Nvidia’s key suppliers in Taiwan, including the world’s largest contract chipmaker, TSMC, at what Taiwanese media called the “trillion-dollar dinner” due to the combined market capitalization of the attendees.
(Reporting by Ben Blanchard, Editing by Timothy Heritage)