Nvidia’s proposed investment of up to $100bn in OpenAI has stalled, according to a report by The Wall Street Journal.

Sources familiar with the matter said internal concerns at Nvidia have led the company and OpenAI to reconsider the future structure of their partnership.

Ongoing discussions now involve a potential equity investment in the tens of billions as part of OpenAI’s latest funding round, rather than the larger sum initially announced.

Nvidia had outlined plans for the substantial investment last September, aiming to support OpenAI’s acquisition of advanced chips and bolster its capacity to train and operate new AI models.

The arrangement would have positioned Nvidia as a key supplier for OpenAI’s data centre infrastructure as it seeks to maintain its position in an increasingly competitive sector.

The report noted that Nvidia CEO Jensen Huang has described the original $100bn commitment as non-binding and not finalised.

Huang has also raised issues regarding OpenAI’s business practices and expressed concerns about heightened competition from other technology firms, including Google and Anthropic.

Meanwhile, other major players are seeking partnerships with OpenAI. Amazon is reportedly negotiating an investment that could reach $50bn, while SoftBank Group is also pursuing closer ties.

OpenAI is currently engaged in efforts to raise up to $100bn in funding, which would give it an estimated valuation of around $830bn.

The ChatGPT developer continues significant spending on data centres as it expands its AI capabilities.

The original agreement between Nvidia and OpenAI involved deploying ten gigawatts (GW) of Nvidia systems for AI infrastructure development, with initial operations expected in the second half of 2026 using the Vera Rubin platform.

That partnership intended for Nvidia to serve as OpenAI’s main provider of computing and networking solutions, working alongside partners such as Microsoft, Oracle, SoftBank, and Stargate.