Nvidia CEO dismisses reports that his company’s $100 billion investment in OpenAI has stalled

Nvidia CEO Jensen Huang said Saturday that a recent report of friction between his company and OpenAI was “nonsense.”

Huang’s comments came after The Wall Street Journal published a story late Friday claiming as much Nvidia was looking to reduce its investments In OpenAI. The two companies announced the plan in September Nvidia will invest up to $100 billion in OpenAI And also building 10 gigawatts of computing infrastructure for an AI company.

However, the Wall Street Journal said that Hwang began emphasizing that the deal was non-binding, and that he also privately criticized OpenAI’s business strategy and expressed concerns about competitors like Anthropic and Google.

The Wall Street Journal also reported that the two companies are rethinking their relationship — though that doesn’t mean cutting things off completely, as recent discussions have reportedly focused on an equity investment worth tens of billions of dollars from Nvidia.

An OpenAI spokesperson told the Wall Street Journal that the two companies are “actively working through the details of our partnership,” adding that Nvidia “has leveraged our breakthroughs from the beginning, powers our systems today, and will remain central as we scale what comes next.”

According to Bloomberg, reporters asked Hwang about the report during a visit to Taipei. In response, He insisted that Nvidia “will definitely participate.” In OpenAI’s latest funding round “because it’s a good investment,” according to Bloomberg.

“We will invest a significant amount of money,” Huang said. “I believe in OpenAI. The work they are doing is incredible. It is one of the most important companies of our time.”

He apparently declined to say how much Nvidia would invest, instead saying: “Let (OpenAI CEO Sam Altman) announce how much he’ll raise — it’s up to him to decide.”

The Wall Street Journal reported in December that OpenAI is looking to raise a $100 billion funding roundWhile the New York Times said this week Nvidia, Amazon, Microsoft, and SoftBank are all in discussion Potential investments.