Nvidia CEO Jensen Huang said that recent investments in OpenAI and Anthropic may be the company's last deals with these two companies, as they are preparing for a public offering (IPO).
Speaking at the Technology, Media and Telecommunications conference organized by Morgan Stanley Financial Services Group in San Francisco (held on March 3-4, 2026), Mr. Jensen Huang said that the opportunity to invest at a scale of 100 billion USD in OpenAI may no longer be feasible, as the company behind ChatGPT is said to be planning an IPO at the end of this year.
Previously, Nvidia and OpenAI announced a 100 billion USD deal in September last year. However, according to Mr. Huang, Nvidia has finally completed an investment of about 30 billion USD, and this may be the last chance for the company to deeply participate in such an important AI company before the IPO takes place.
Currently, OpenAI is preparing for an IPO that could value the company up to 1,000 billion USD. Meanwhile, Nvidia has also poured about 10 billion USD into Anthropic.
Mr. Huang said that this investment is likely also the last, as Anthropic is said to be considering listing this year. However, the company said it has not made an official decision yet.
Another notable development is a Financial Times report in February stating that Nvidia and OpenAI have abandoned the 100 billion USD deal due to suspicions related to the overall prospects of the AI industry.
In addition, some analysts expressed concern about the risk of "circular investment". If Nvidia pours large capital into Anthropic, which is one of the company's key AI chip buyers, the investment money may return to Nvidia through Anthropic spending heavily on its own AI processors.
In the context of major AI startups approaching IPOs, Nvidia's cautious move shows that the company is adjusting its strategy, shifting its focus from the role of investor to the core infrastructure provider for the global artificial intelligence wave.
