Nvidia’s plan to invest up to $100 billion in OpenAI has stalled, WSJ reports

The Wall Street Journal yesterday reported that Nvidia’s $100 billion plan had stalled amid internal doubts about the size and structure of the transaction and questions about OpenAI’s business discipline and competitive risks.

Nvidia CEO Jensen Huang has privately emphasized to industry associates in recent months that the original $100 billion agreement was non-binding and not finalized, the report said.

Huang has also privately criticized what he has described as a lack of discipline in OpenAI's business approach and expressed concern about the competition it faces from the likes of, Google and Anthropic, the WSJ added.

Considering the interconnectedness of many of OpenAI’s agreements and the criticism that Nvidia engages in a form of circular financing with its own deals is this the loose thread that, once pulled, unravels the entire AI boom?

The Nvidia–OpenAI megadeal may end up smaller than advertised, or even be replaced by a patchwork of investments from multiple players, but that does not mean the AI gold rush is ending.

If anything, it underscores that the ecosystem is broad, that OpenAI has many potential backers, and that partners will increasingly demand clearer paths to returns as the sector matures.