AI Fund Flows

Nvidia ↔ OpenAI: every deal

All 4 deals between Nvidia and OpenAI: $30B in total since Sep 22, 2025, with dates, status and sources. Updated Nov 9, 2026.

Nvidia → OpenAI
$30B
OpenAI → Nvidia
$0M

Loops that include this flow

Feb 27, 2026Chips & hardwareannouncedn/a
OpenAI → Nvidia · 3 GW inference + 2 GW training Vera Rubin

Alongside the investment, OpenAI commits to 3 GW of dedicated inference capacity and 2 GW of training on Vera Rubin systems.

Feb 27, 2026Investmentclosed$30B
Nvidia → OpenAI · direct equity

$30 billion equity investment in the $110 billion round, replacing the $100 billion letter of intent of September 2025.

Sep 22, 2025Chips & hardwareannouncedn/a
OpenAI → Nvidia · at least 10 GW

Hardware part of the letter of intent: at least 10 GW of Nvidia systems (Vera Rubin platform, first GW in 2H 2026). Scaled back in February 2026 to commitments of 3 GW + 2 GW.

Sep 22, 2025Investmentcalled off$100B
Nvidia → OpenAI · up to, in 10 tranches of $10 billion

Letter of intent: Nvidia would have invested up to $100 billion as OpenAI deployed 10 GW of Nvidia systems. Never formalized; in February 2026 replaced by a $30 billion equity investment.