Nvidia and OpenAI abandon unfinished $100B deal in favour of $30B investment, FT reports

U.S. chip giant Nvidia (NVDA) is close to finalizing a $30 billion investment into OpenAI (OPENAI) that will replace the long-term $100 billion commitment agreed upon by the companies last year, the Financial Times reported on Thursday.
The $30B equity investment is part of a funding round that is on track to raise more than $100B and will value OpenAI at $730B, not including the new money, the report said.
OpenAI will invest much of the new capital in Nvidia hardware, and the deal could be finalized as early as this weekend, the report added.