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NVIDIA, Microsoft, and Amazon are considering a combined investment of up to $60 billion in OpenAI, according to people familiar with the discussions. The companies have not issued official confirmations as of January 2026.
The talks could lift OpenAI’s valuation to about $730 billion, based on figures cited by the same people. However, no signed term sheets or finalized commitments are public.
People familiar with the talks say Nvidia is considering investing up to $30 billion in OpenAI. NVIDIA already backs OpenAI, and its chips power OpenAI’s AI workloads.
The same people say Microsoft is considering an investment of less than $10 billion. Microsoft has supported OpenAI for years and maintains a close commercial relationship. Sources say Amazon is discussing an investment well above $10 billion. The amount could exceed $20 billion, which would make Amazon a major new backer.
However, the figures remain discussion points, not confirmed allocations. Consequently, markets cannot treat the numbers as final deal terms. In addition, the parties have not disclosed a timing for any closing. That leaves room for changes as negotiations continue.
Also Read: How Microsoft’s Bet on OpenAI Fuels Its Competitive Edge
Sources say OpenAI is close to receiving term sheets tied to the potential round. Term sheets often set valuation, governance terms, and investor rights. The valuation figure under discussion sits near $730 billion, according to the same sources. Still, no public documents confirm the price, share class, or investment mechanics.
A tech market analyst quoted in the information available said speculative discussions can move markets early. That dynamic often fades when hard details emerge. Meanwhile, OpenAI faces rising costs to train and run artificial intelligence (AI) models. Those costs can increase as models scale and usage grows.
Competition has also intensified across the AI sector. Major technology companies continue to expand their model development and product rollouts.
Sources say Amazon’s potential investment may depend on separate negotiations inside the same broader process. Those talks could address cloud server rental capacity for OpenAI. Amazon Web Services could play a larger role if the parties expand infrastructure arrangements. That possibility links funding to computing supply and operating scale.
In addition, sources say the sides are discussing commercial terms for OpenAI products. Those discussions include selling enterprise ChatGPT subscriptions through Amazon channels.
NVIDIA’s role centers on AI infrastructure and chips that support model training and inference. That position aligns with Nvidia’s existing relationship with OpenAI’s compute stack. Microsoft’s role appears tied to its longstanding partnership and funding history. Even so, the figures discussed place Microsoft below the largest check sizes.
Still, none of the companies have confirmed the investment totals, valuation, or product agreements. Markets are watching for official statements, signed term sheets, or finalized agreements that confirm figures and timing. Until then, the $60 billion investment and the $730 billion valuation remain under discussion.
