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Nvidia closing in on $20bn OpenAI investment

Nvidia to become world's most valuable company

Nvidia is reportedly close to finalizing a deal to invest around $20 billion in OpenAI’s latest funding round.

OpenAI, the company behind ChatGPT, is aiming to raise up to $100 billion in this round, which could value the company at approximately $830 billion, according to Reuters, citing a source.

Companies such as Amazon and SoftBank Group Corp are competing to form partnerships with OpenAI, hoping that closer collaboration with the AI startup will provide a competitive advantage in the rapidly evolving AI landscape.

The source noted that the Nvidia-OpenAI deal has not been finalized.

The news follows a Wall Street Journal report that Nvidia’s September plan to invest $100 billion in OpenAI and supply it with data center chips had stalled amid the company’s concerns about the deal.

Although the agreement was initially expected to close within weeks, talks have now dragged on for months.

Nvidia CEO Jensen Huang dismissed claims of dissatisfaction with OpenAI, saying on Saturday that the company plans to make a “huge” investment—likely its largest ever.