Nvidia’s reported $30B OpenAI stake would tighten a key AI supply chain
A direct Nvidia equity stake in OpenAI would tie the top AI-chip supplier more closely to a major model builder, at a moment when infrastructure spending is driving the sector’s economics. The structure also raises questions about incentives in procurement, governance, and how quickly capital can recycle back into GPU demand.
Nvidia is close to finalizing a $30 billion investment in OpenAI, Reuters reported, citing a person familiar with the matter. The investment would be part of a fundraising round in which OpenAI is seeking more than $100 billion, a size that would rank among the largest private raises on record and imply a valuation of about $830 billion for the ChatGPT maker.
SoftBank Group and Amazon are also likely to participate, underscoring how tightly linked chip suppliers, cloud platforms, and model developers have become as capital spending shifts toward AI infrastructure.
The reported $30 billion check would replace a commitment announced in September 2025, where Nvidia intended to invest up to $100 billion over time to support OpenAI’s use of Nvidia systems in data centers. Nvidia had planned an initial $10 billion once the parties reached a definitive agreement tied to OpenAI purchases of Nvidia systems, but the deal took longer than expected. Nvidia declined to comment on the report.
OpenAI is expected to use a large share of the fresh capital to purchase Nvidia chips that power the training and deployment of its models. That creates a circular dynamic: the same investment that gives Nvidia exposure to OpenAI’s upside can also help finance demand for Nvidia hardware.
The reported talks are the latest step in an unusually large funding push. Earlier coverage described OpenAI as pursuing a $100 billion fundraising effort as it becomes increasingly central to Big Tech’s AI roadmaps. If the round closes anywhere near the numbers being discussed, it could reset expectations for how much capital leading AI labs will need, and how directly infrastructure providers will want to participate in that upside.
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