Nvidia CEO Jensen Huang just shut down swirling speculation about the chipmaker's high-stakes investment in OpenAI. In an interview with CNBC's Jim Cramer on Tuesday, Huang dismissed reports of brewing tension between the two AI giants, declaring flatly that "there's no drama involved" and the company's plan to invest in OpenAI remains "on track." The statement comes as Nvidia shares tumbled more than 3.4% today, with investors increasingly anxious about the status of what Huang called "the largest private round ever raised in history."
Nvidia CEO Jensen Huang is pushing back hard against reports that the chipmaker's massive investment deal with OpenAI has hit the rocks. Speaking to CNBC on Tuesday, Huang offered his most direct comments yet on a partnership that's become one of the most scrutinized relationships in tech.
"There's no drama involved. Everything's on track," Huang told Jim Cramer during an interview set to air later on "Mad Money." It's a striking contrast to the picture painted by recent media reports and regulatory filings that have sent investors into a panic.
The tension has been building since September, when Huang appeared alongside OpenAI CEO Sam Altman to announce a letter of intent for Nvidia to invest up to $100 billion in the AI lab. The plan called for OpenAI to build massive AI infrastructure around Nvidia's technology, requiring up to 10 gigawatts of power and representing one of the largest corporate investments in AI history.
But the deal's status quickly became murky. An SEC filing in November revealed the agreement hadn't actually been finalized, raising questions about whether the September announcement was premature. Then over the weekend, the Wall Street Journal reported the deal was "," sending shockwaves through the market.
