Did the $100 billion 'deal of the century' between OpenAI and NVIDIA fall through? That September conference last year still feels fresh in memory— Jensen Huang and Sam Altman stood side by side, announcing NVIDIA’s $100 billion investment to help OpenAI build computing power. At the time, Huang boldly declared: this is the largest computing project in history. Right after he said that, NVIDIA’s stock price shot up by 4%. But now? The Wall Street Journal revealed: negotiations are still in the early stages and haven’t made any real progress. Apparently, Jensen Huang privately complained to his executives: 1. That $100 billion agreement isn’t binding. 2. OpenAI’s business approach "lacks discipline." 3. He’s worried OpenAI won’t be able to compete with Google and Anthropic. Let me translate this for you: Huang thinks OpenAI spends money too recklessly and doesn’t have a strong enough moat. Interestingly, last November, NVIDIA turned around and promised Anthropic a $10 billion investment. So now OpenAI’s situation isn’t looking great. Gemini is gaining traction, Claude Code has snagged quite a few developers, ChatGPT’s growth is slowing down, and internally, they’re reportedly in emergency mode. OpenAI still wants to go public by the end of 2026, but without this $100 billion in computing power, their valuation narrative will be hard to sell. Jensen Huang truly lives up to his reputation—always the sharpest shovel-seller in the game.