NVIDIA is close to finalizing a $30 billion investment in OpenAI, which will replace the $100 billion long-term commitment the two companies reached last year.
According to informed sources, negotiations between NVIDIA and OpenAI are in the final stages and could be finalized as early as this weekend. The sources said the $30 billion equity investment is part of a larger financing round that is expected to raise more than $100 billion, valuing OpenAI at $730 billion (excluding new funds). The sources added that OpenAI will reinvest most of the new funds in NVIDIA hardware, but the two companies will not proceed with the $100 billion multi-year investment partnership announced last September. Against the backdrop of growing investor concerns about the health of the AI industry, which has pushed U.S. tech stocks down 17% since the beginning of the year, the high-profile agreement announced last September has been shelved.
$NVIDIA(NVDA.US)
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