NVIDIA, Microsoft, and Amazon will invest $60 billion in OpenAI, valuing it at $730 billion, as the AI arms race heats up

According to The Information, the three tech giants Nvidia, Microsoft, and Amazon are simultaneously negotiating investment deals with OpenAI, with a total amount reaching up to $60 billion. Before this round of financing, OpenAI’s valuation could reach $730 billion, highlighting that the AI arms race has entered a heated stage.
(Background: Breaking! Nvidia invests $100 billion to collaborate with OpenAI and build a 10GW AI data center, NVDA jumps 3.9%)
(Additional background: Amazon reportedly plans to invest over $10 billion in OpenAI, pushing its own chip Trainium to challenge Nvidia’s dominance)

Table of Contents

• The three giants each have their own plans: who is investing the most?
• SoftBank also to add $30 billion
• The AI infrastructure funding race
• OpenAI funding records

The capital contest in the AI industry is escalating again. According to The Information, citing informed sources, Nvidia, Microsoft, and Amazon are separately negotiating investment terms with OpenAI, with a combined amount potentially reaching $60 billion. Before this round of financing, OpenAI’s valuation could reach $730 billion. Currently, OpenAI is close to receiving formal investment term sheets from these companies.

If negotiations proceed smoothly, this will be one of the largest single-round financings in AI history, with OpenAI’s post-investment valuation approaching $800 billion, further consolidating its leading position in the generative AI sector.

The three giants each have their own plans: who is investing the most?

In this massive investment, each party’s scale and strategic intent vary:

• Nvidia: As an existing investor in OpenAI and the main supplier of its AI model training chips, Nvidia is negotiating to invest up to $30 billion, the highest among the three.
• Amazon: If the investment is completed, it will become a new shareholder of OpenAI, with reported funding possibly exceeding $10 billion and even over $20 billion.
• Microsoft: As OpenAI’s long-term largest backer and holder of exclusive cloud distribution rights, Microsoft’s current negotiations are relatively conservative, expected to be less than $10 billion.

Notably, Nvidia, as both a chip supplier and investor, securing the largest share reflects its shift from a hardware seller to a deep participant in the AI ecosystem.

Amazon’s stake is not just a financial investment—it’s reported that their investment may come with additional conditions, including expanding OpenAI’s cloud server leasing agreements with Amazon and a commercial cooperation arrangement allowing OpenAI to sell products to Amazon (such as enterprise ChatGPT subscription services). In other words, Amazon is trying to leverage capital to secure deeper business ties, strengthening AWS’s competitive edge in AI cloud services.

SoftBank also to add $30 billion

In addition to the three giants mentioned above, earlier this week, there were reports that SoftBank Group is negotiating to inject up to $30 billion into OpenAI. If SoftBank’s share is included, OpenAI’s current round could attract nearly $100 billion in funding.

CEO Sam Altman is reportedly finalizing a follow-up financing round. If all goes well, the company’s valuation could further rise to $830 billion, approaching its 2027 IPO target of a $1 trillion valuation.

The AI infrastructure funding race

The backdrop of this round of financing is that the AI industry has entered a large-scale infrastructure construction phase. In September, Nvidia and OpenAI announced a strategic cooperation plan to deploy at least 10GW of NVIDIA systems, with Nvidia committing to a phased investment of up to $100 billion. The first batch of systems is expected to go online in the second half of 2026, using the NVIDIA Vera Rubin platform.

Meanwhile, Amazon has also been laying out AI infrastructure—providing cloud computing power through AWS and actively developing its own chip Trainium, aiming to break Nvidia’s monopoly in the AI training chip market.

From Microsoft, Nvidia, to Amazon, these tech giants are increasing their AI investments by hundreds of billions of dollars. This arms race has far surpassed any previous wave of technological innovation. As the hottest player in the current AI race, OpenAI’s every move influences global tech capital.

OpenAI funding records

This potential $60 billion financing is not the first time OpenAI has attracted astronomical capital. Looking back at recent funding history:

• October 2024: Completed $6.6 billion funding at a valuation of $157 billion
• August 2025: Oversubscribed $8.3 billion at a valuation of $300 billion
• October 2025: Completed profitability restructuring, valuation increased to $500 billion
• January 2026: Nvidia, Microsoft, and Amazon negotiating $60 billion investment, pre-money valuation of $730 billion
• Target IPO in 2027, with a valuation exceeding $1 trillion

OpenAI is projected to spend a total of $115 billion by 2029, with 2025 revenue estimated at around $13 billion, leaving a significant funding gap. Continually attracting strategic investors not only replenishes resources but also helps build a more solid shareholder structure for future IPOs.