Cracks in the $100 Billion Alliance: Why Jensen Huang is Putting NVIDIA’s OpenAI Mega-Deal on Ice

NVIDIA has reportedly put its $100B infrastructure deal with OpenAI on hold, shifting discussions toward a potential multi-billion dollar equity investment amid concerns about OpenAI’s strategy and intensifying competition from Google Gemini and Anthropic. Originally framed as a massive build-and-lease agreement to create 10 GW of compute, the non-binding MOU has stalled as NVIDIA reassesses risk and diversifies, including a separate $10B commitment to Anthropic. This strategic pivot complicates OpenAI’s ambitious funding plans and timelines ahead of a potential 2026 IPO.