While the deal was announced in September 2025, NVIDIA claims it is still not definitive and no investment has been fully agreed upon, if any.
Back in September, NVIDIA announced a massive deal with OpenAI that was supposed to be valued at $100 billion. However, in a recent Form 10-Q, the group seemed to walk back in this deal, claiming that the final terms have not been settled, and there is no guarantee of investment at this time.
NVIDIA shared these details this week in the Form 10-Q that was filed with its Q3 FY26 earnings results earlier this week. While earlier this year, NVIDIA and OpenAI were proud to a partnership in which would see NVIDIA invest up to $100 billion into OpenAI. The investment would have been made in segments based on OpenAI building and deploying about 10 gigawatts of AI data centers, which each segment being invested as each gigawatt is deployed.
Source: Google
In the form filed by NVIDIA, it claims that while a letter of intent was shared, the deal with OpenAI is still tentative and final terms are still being negotiated, if investment even happens at all:
Comparatively, NVIDIA stressed that it had definitively entered into an agreement to invest $10 billion to Anthropic. Subject to conditions of fulfillment, that deal seems to be settled. However, NVIDIA’s business with OpenAI still seems to be up in the air, and it’s a substantial sum on the line for that tentative agreement. Stay tuned to the NVIDIA topic for further updates.