Nvidia Cuts OpenAI Investment to $30B Amid Antitrust Probes

A complex system of circular investment is defining the AI economy as Nvidia and other major players lock in infrastructure control through equity stakes and hardware agreements. Nvidia reduced its planned investment in OpenAI from $100 billion to a $30 billion equity stake, a shift driven by OpenAI's movement toward an initial public offering.

To reduce its reliance on a single supplier, OpenAI has diversified its hardware sources by signing capacity agreements with AMD for six gigawatts and Amazon for two gigawatts. This trend of chipmakers investing in their own customers has drawn scrutiny from global regulators. The United States Department of Justice and France's Autorité de la Concurrence have launched antitrust investigations, with the U.S. agency issuing subpoenas to Nvidia to probe potential exclusionary conduct in the chip market.

Concurrent with these shifts, Anthropic is preparing for a potential October 2026 IPO following a $30 billion Series G funding round. The industry competition has evolved into a race for electricity and data center real estate, highlighted by the introduction of Nvidia's Vera Rubin platform, as power and land have become as critical as GPU availability.