Nvidia's Jensen Huang denies OpenAI deal rumors: 'There's no drama'

Core Viewpoint - Nvidia's CEO Jensen Huang confirmed that the company's investment plan in OpenAI is still on track despite recent tensions and reports suggesting the deal is "on ice" [1][2]. Group 1: Investment Plans - Nvidia plans to invest up to $100 billion in OpenAI in tranches, with the investment aimed at building AI infrastructure that requires up to 10 gigawatts of power [1]. - Huang stated that Nvidia will participate in OpenAI's next fundraising round, which is expected to be the largest private round ever raised, potentially reaching $100 billion [3]. - Nvidia is open to investing in any future fundraising rounds for OpenAI and aims to participate in an eventual IPO [3]. Group 2: Relationship Dynamics - OpenAI has historically relied on Nvidia's graphics processing units for its AI models but has recently faced chip shortages, prompting it to seek deals with competitors like AMD, Broadcom, and Cerebras [4]. - OpenAI's CEO Sam Altman expressed a positive sentiment towards Nvidia, emphasizing their strong working relationship and the quality of Nvidia's AI chips [5]. Group 3: Market Reaction - Following the uncertainty surrounding the investment deal, Nvidia's shares fell by more than 3.4%, contributing to a broader decline in tech stocks, and are currently 13% below their October peak [2].