Nvidia is close to finalizing a $30 billion investment in OpenAI, replacing its original $100 billion partnership plan.

PANews reported on February 20th, citing the Financial Times, that Nvidia is close to finalizing a $30 billion investment with OpenAI, replacing the $100 billion long-term commitment the two companies reached last year. Sources familiar with the matter revealed that negotiations between Nvidia and OpenAI are in their final stages and could be finalized as early as this weekend. The sources stated that this $30 billion equity investment is part of a larger funding round expected to raise over $100 billion, valuing OpenAI at $730 billion (excluding the new funds). The sources added that OpenAI will reinvest most of the new funds in Nvidia hardware, but the two companies will not proceed with the $100 billion multi-year investment partnership announced last September. The agreement, announced with great fanfare last September, was shelved amid growing investor concerns about the health of the AI ​​industry, which has driven US tech stocks down 17% since the beginning of the year.