Nvidia shifts to $30B OpenAI stake

Nvidia is finalising a $30 billion investment in OpenAI, replacing an earlier $100 billion multi-year partnership plan in a move that reduces balance sheet risk while preserving long-term GPU demand.

The investment is expected to form part of OpenAI’s latest funding round, which could value the artificial intelligence company at roughly $830 billion, with much of the capital likely to be reinvested into AI infrastructure powered by Nvidia hardware.

By opting for a smaller equity stake instead of directly funding large-scale infrastructure, Nvidia gains ownership exposure to OpenAI while continuing to secure chip sales, effectively reshaping the financial risk profile of the deal.

Shares in Nvidia fell to around $177 in early February amid uncertainty over the original $100 billion plan and concerns about US export restrictions on AI chips to China, before rebounding toward the high-$180 range following news of the revised investment and new supply agreements.

The stock also benefited from a multi-year agreement to supply millions of AI chips to Meta, reinforcing investor confidence in sustained demand for Nvidia’s products despite lingering valuation and regulatory concerns.

The revised $30 billion commitment is widely viewed as strategically positive, as it avoids the financial strain of the larger plan while deepening Nvidia’s position as OpenAI’s primary hardware partner.

While short-term volatility may persist due to macro and policy risks, the deal strengthens Nvidia’s long-term standing at the centre of global AI infrastructure spending as the sector continues to expand.