Computer chip manufacturer Nvidia is reportedly on the verge of completing a $30 billion investment in OpenAI, the company behind ChatGPT, according to a Financial Times report released Thursday.
The investment would take the place of a larger $100 billion partnership that the two technology companies had previously announced but never completed, sources told the Financial Times.
According to the report, the agreement could be wrapped up as soon as this weekend and would be part of OpenAI’s latest effort to secure additional funding.
When contacted for comment, Nvidia representatives declined to provide a statement about the reported deal.
Earlier reports from January indicated that OpenAI was seeking to raise as much as $100 billion in fresh funding, which would put the artificial intelligence company’s value at approximately $830 billion.
The Financial Times report suggests that while OpenAI plans to use a significant portion of its new funding to purchase Nvidia’s computer hardware, the companies have decided not to move forward with the multi-year $100 billion investment agreement they had announced in September.
