
Nvidia CEO Jensen Huang has announced that the company's recent $30 billion investment in OpenAI is likely its final equity stake before the AI firm’s anticipated initial public offering (IPO). This move signals a strategic shift for the chipmaker, moving away from direct ownership to focus on its role as the primary infrastructure provider for the AI industry.
The End of the $100 Billion Mega-Deal
The announcement clarifies the status of a previously discussed $100 billion infrastructure partnership between Nvidia and OpenAI.

 *Deal Scrapped: Huang explicitly ruled out the possibility of a $100 billion investment, noting that such a massive private equity opportunity is "probably not in the cards" now that OpenAI is preparing to go public.
 *Aspirational Goals: Reports indicate the $100 billion figure was part of a non-binding letter of intent signed in late 2025 and was never a finalized commitment.
 *Shift to Equity: The partnership has instead been finalized as a $30 billion direct equity investment, which was part of OpenAI’s record-breaking $110 billion funding round in February 2026.


**Anthropic and the Maturing AI Market**
Nvidia is also cooling its investment activity with OpenAI's chief rival. Huang indicated that Nvidia’s $10 billion investment in Anthropic is likely to be its last for that company as well.

 *IPO Preparedness: Both OpenAI and Anthropic are reportedly preparing for public listings toward the end of 2026.
 *Regulatory & Financial Strategy: Analysts suggest this pivot helps Nvidia avoid "circular financial arrangements" where it invests heavily in its own largest customers.
 *Focus on Sales: Huang emphasized that as these companies go public, Nvidia will benefit more from hardware sales than from increasing its private equity holdings.
Future Infrastructure Ties

Despite the end of direct funding, Nvidia remains deeply entrenched with both labs:
 *Hardware Guarantees: As part of the recent $30 billion deal, OpenAI has secured dedicated training and inference capacity on Nvidia’s next-generation Vera Rubin chips.
 *Multi-Cloud Expansion: Nvidia continues to expand compute infrastructure across AWS, Azure, and OCI to support OpenAI’s surging demands

"The reason for ending investments is because they're going to go public... if we provide the compute capacity they need, the revenues will more than follow." — Jensen Huang



Jensen Huang Signals End of Direct Investments in OpenAI and Anthropic