Nvidia is on the verge of finalizing a $30 billion investment in OpenAI, according to information published on February 19, 2026, by the Financial Times and confirmed by Reuters. This amount replaces an initial $100 billion agreement announced in September 2025, which was never fully formalized. The deal could be concluded as early as this weekend, according to sources cited by the international financial press.
From $100 Billion to $30 Billion: The Story of a Revised Agreement
In September 2025, Nvidia and OpenAI announced an ambitious strategic partnership from Nvidia's headquarters in Santa Clara. The central objective was to build at least 10 gigawatts of data centers powered by Nvidia GPUs to enable OpenAI to train its next artificial intelligence models, with the first phase expected to go live in the second half of 2026 on the Vera Rubinplatform. OpenAI would rent chips from Nvidia, according to the terms of the letter of intent signed at the time.
As early as January 30, 2026, The Wall Street Journal reported that this mega-deal had been put "on hold," with internal doubts emerging at Nvidia. Jensen Huang, CEO of Nvidia, responded from Taipei to deny any conflict, calling the investment "colossal" and assuring that participation in Sam Altman's funding round was "certain." Huang's firm tone temporarily reassured the markets without closing the file.
A Restructuring, Not an Abandonment
The logic of the new deal differs profoundly from the original letter of intent. The September 2025 agreement was primarily an infrastructure operation in which Nvidia financed the construction of data centers. The deal of $30 billion currently being finalized would be a direct equity stake in OpenAI, with Nvidia moving from the status of supplier to shareholder. This change in nature reflects Nvidia's desire to secure a lasting position within the company that is currently shaping global GPU demand.
This logic is reminiscent of Microsoft's strategy, which multiplied its direct stakes in OpenAI to occupy a central position in the generative AI market. Owning a share of OpenAI also means securing a strategic client against the rise of alternatives like Google's or Amazon's in-house accelerators.
A Historic Funding Round for OpenAI
This contribution from Nvidia is part of a record funding round that OpenAI is in the process of finalizing, with a total amount exceeding $100 billion. SoftBank would participate with approximately $30 billion, and Amazon could contribute up to $50 billion. If these figures are confirmed, OpenAI would be valued between $830 and $850 billion, making it one of the most highly valued startups in history.
OpenAI currently has over 700 million active users each week. This massive user base justifies valuations that seemed improbable three years ago, and the competition with Google Gemini or Anthropic necessitates a race for computing resources, making this type of funding inevitable.
Vera Rubin chips, a real circular challenge
Behind the financial figures lies a very concrete reality: the majority of the funds raised by OpenAI will be used to purchase Nvidia chips. The new chips Vera Rubin, whose production has just begun, represent the next generation of accelerators for training large language models. Nvidia therefore has a direct and circular interest in this deal: investing in OpenAI also stimulates demand for its own products.
This circular mechanism has not gone unnoticed in the industry. Nvidia is acting as a hardware supplier, financier, and soon shareholder, a position that gives it considerable leverage over the entire generative artificial intelligence ecosystem.
Nvidia shareholder: a new balance of power
Nvidia's conversion into a venture capital investor marks a turning point for the tech industry. The semiconductor manufacturer is no longer just the provider of AI infrastructure; it is becoming a leading financial player in the ecosystem it helps to power. Historical infrastructure partners of Stargate, including Microsoft, Oracle, and SoftBank, now see Nvidia directly entering OpenAI's capital.
This intensified partnership between the two giants could permanently alter the competitive balance in the sector. The coming months will tell if this $30 billion deal marks the beginning of a new era in chip manufacturers' investment strategies, or simply the normalization of an already very close partnership between the two companies.
No comments! Be the first one.