Nvidia nears $30B investment in OpenAI, ditches earlier plan: report

Nvidia is close to finalising a $30 billion investment in OpenAI as part of a massive new financing round that could raise more than $100 billion and value the ChatGPT developer at $730 billion before new capital, reported Financial Times, citing people familiar with the negotiations. The investment would replace a previously announced long-term $100 billion partnership between the two companies that never progressed beyond a memorandum of understanding. The agreement could be concluded as early as this weekend, said the report. The revised structure reflects a shift toward a more straightforward equity investment, while still preserving the close commercial relationship between the companies that sit at the center of the artificial intelligence boom. Revised deal replaces earlier $100bn partnership…