In September 2025, Nvidia and OpenAI announced a non-binding letter of intent for Nvidia to invest up to $100 billion in OpenAI's AI infrastructure, paired with plans to deploy 10 gigawatts of Nvidia systems-equivalent to the power of roughly 10 nuclear reactors. Five months later, in February 2026, no deal has closed, and Nvidia CEO Jensen Huang clarified that the $100 billion figure was "never a commitment," describing investments as proceeding "one step at a time" rather than a lump sum.

Internal doubts at Nvidia, concerns over OpenAI's business approach, and OpenAI's dissatisfaction with some Nvidia chip performance for inference tasks have contributed to the stall. OpenAI has since pursued alternatives, including a $10 billion deal with Cerebras for additional compute capacity and partnerships with AMD and Broadcom to diversify beyond Nvidia.

Huang maintained that Nvidia would still make a significant investment in OpenAI, calling it "probably the largest we've ever made," though far short of the originally touted scale.