Nvidia CEO Jensen Huang has indicated that the chipmaker is unlikely to expand its financial commitments to OpenAI and Anthropic, as both AI companies move closer to potential public listings.

Speaking at the Morgan Stanley Technology, Media and Telecom conference on March 4, Huang said the opportunity to deploy another $100 billion into OpenAI is “probably not in the cards,” noting that the ChatGPT maker is widely expected to debut on the stock market later this year. “The reason for that is because they’re going to go public,” Huang said.

According to Reuters, in an exclusive report stated that OpenAI is laying the groundwork for an ​IPO that could value the company at up to $1 trillion. OpenAI has not made any formal announcements regarding going public as of now.

Nvidia and OpenAI had announced a $100 billion agreement in September. Since then, Nvidia has finalised a $30 billion investment in the company. Huang suggested that this may represent the last chance to invest in a company of that scale before it transitions to public markets.

Huang’s remarks follow months of speculation about the scope and status of Nvidia’s relationship with OpenAI. In a quarterly filing in November, Nvidia disclosed that the previously announced $100 billion deal may not ultimately materialise. In January, The Wall Street Journal reported that the agreement was “on ice.”

The chipmaker, in its February quarterly filing, did also state that there was “no assurance” it would enter into an “investment and partnership agreement with OpenAI or that a transaction will be completed.”

Nvidia’s $10 billion investment in Anthropic to be last

Huang made similar comments regarding Nvidia’s position in Anthropic. The company has invested $10 billion in the AI start-up and indicated that this is likely to be its final commitment. Anthropic too is exploring plans to go public this year, though it has said no final decision has been taken.

According to a Financial Times Report in December 2025, Anthropic was gearing up for an IPO in the earlier part of 2026, but due to its entanglement with the US Department of Defence, it seems plans to go public will get pushed.