Nvidia shares slipped on Monday after reports suggested the company’s highly anticipated investment in OpenAI may be facing delays, raising fresh questions about the size and certainty of the deal.
The stock fell around 1% in early trading after a Wall Street Journal report said uncertainty had emerged around Nvidia’s planned investment, citing people familiar with the matter. In September, Nvidia announced plans to invest up to $100 billion in OpenAI and build at least 10 gigawatts of computing power to support the AI startup’s growing demands.
However, Nvidia CEO Jensen Huang later clarified that the investment was nonbinding and not yet finalized. According to the report, Huang also raised concerns about OpenAI’s business discipline and pointed to increasing competition from rivals such as Google and Anthropic.
Over the weekend, Huang pushed back against suggestions of tension with OpenAI, calling the claims “nonsense.” He reiterated that Nvidia remains committed to investing, though the final amount will not exceed $100 billion. Huang praised OpenAI’s work and said Nvidia would play a major role in the funding round led by OpenAI CEO Sam Altman.
Market watchers say the lack of clarity around the investment amount has unsettled investors. Sarah Kunst, managing director at Cleo Capital, said uncertainty over whether the deal would reach the full $100 billion likely contributed to the stock’s decline. She noted that public back-and-forth between an investor and a startup is unusual and often fuels market doubt.
Wedbush analyst Dan Ives added that Nvidia’s cautious messaging reflects concerns around “circular financing,” where major AI companies invest heavily in one another. He said Nvidia wants to protect its strategic position while ensuring its investments do not indirectly strengthen competitors.
Despite the short-term dip, analysts expect Nvidia to proceed with a massive investment, likely close to the originally discussed figure.
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