Nvidia, OpenAI near $30 billion investment in place of unfinished $100 billion deal - reports

Nvidia NVDA.O is close to finalizing a $30 billion investment into OpenAI that will replace the long-term $100 billion commitment agreed upon by the companies last year, the Financial Times reported on Thursday, citing sources.

The deal, which would be part of a new funding round for the artificial intelligence start-up, could be finalized as early as this weekend, the report added.

Reuters could not immediately verify the report. Nvidia declined to comment.

ChatGPT maker OpenAI is looking to raise up to $100 billion in its latest funding round, valuing it at about $830 billion, Reuters reported in January.

OpenAI will reinvest much of its new capital into Nvidia hardware, but the companies will not proceed with the $100 billion multi-year investment partnership they announced in September, according to the FT report.

-Carlos Méndez/Reuters