Regarding the widely discussed news that NVIDIA has invested $100 billion in OpenAI, Jensen Huang, CEO of NVIDIA, made an official response during a company event in Taipei. He clearly stated that this huge investment was never a commitment and had no legal binding force.

Core Controversy: Investment or "Big Pie"?

Non-Commitment Nature: Huang emphasized that although NVIDIA is happy to receive OpenAI's invitation for up to $100 billion in investment, it will only "gradually invest" based on actual circumstances.

Interest Chain: According to the original plan, this $100 billion investment was intended to help OpenAI pay for about 10GW of computing power costs. It is estimated that this would directly translate into around $30 billion in GPU orders for NVIDIA.

Market Doubt: Some comments pointed out that this "mutual investment" model seems more like a perfect loop in the capital circle, aiming to increase both parties' valuations and drive up hardware demand prices.

Collaboration Cracks: Concerns About Terms and Increasing Competition

According to a report by The Wall Street Journal, this investment transaction has now stalled, mainly due to the following reasons:

Internal Concerns: NVIDIA has internal concerns about specific transaction terms.

Lack of Discipline: Huang criticized OpenAI for lacking discipline in business operations in internal comments.

Multiple Power Struggles: OpenAI subsequently signed new computing contracts with competitors such as AMD and Google. In particular, the widespread praise for Google's Gemini 3 and its TPU roadmap has put significant competitive pressure on NVIDIA.

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