Nvidia is finalizing $30 B investment to OpenAI - Replacing the $100 B commitment

Nvidia is close to finalising a $30bn investment into OpenAI that will replace the long-term $100bn commitment agreed by the companies last year, as part of a massive new funding round for the AI start-up. The world’s most valuable company is in the final stages of negotiations with OpenAI, and its investment could be concluded as early as this weekend, according to people with knowledge of the matter. The $30bn equity investment forms part of a larger funding round that is on track to raise more than $100bn and will value the ChatGPT maker at $730bn, not including the new money, the people said. OpenAI will reinvest much of its new capital into Nvidia hardware, but the companies would not proceed with the $100bn multiyear investment partnership they announced in September, the people added. The retreat from the agreement announced to much fanfare in September comes amid investor jitters about the health of the AI sector that have helped drive US tech stocks down 17 per cent since the start of the year. Per: Financial Time [https://www.ft.com/content/dea24046-0a73-40b2-8246-5ac7b7a54323](https://www.ft.com/content/dea24046-0a73-40b2-8246-5ac7b7a54323)