New York, Jan 31, 2026, 09:32 ET — Market closed
- Nvidia shares closed at $191.13 on Friday, down 0.7%
- CEO Jensen Huang said Nvidia will make a “huge” investment in OpenAI
- Investors now look to the OpenAI fundraising terms and Nvidia’s Feb. 25 results
Nvidia (NVDA.O) shares head into next week with investors weighing CEO Jensen Huang’s weekend comments that the chipmaker plans a “huge” investment in OpenAI, even as he played down earlier talk of a nine-figure cheque. “We will invest a great deal of money, probably the largest investment we’ve ever made,” Huang told reporters in Taipei, adding of reports of a $100 billion figure: “No, no, nothing like that.” Reuters
The remarks land after a risk-off end to the week for U.S. equities, with traders recalibrating around politics and rates as well as big-tech earnings. “Markets are calibrating to Trump’s pick of Kevin Warsh … and the outlook for monetary policy,” Michael Hans, chief investment officer at Citizens Wealth, said on Friday, as producer prices rose more than expected and investors also fretted about a potential U.S. government shutdown. Reuters
Nvidia shares fell 0.72% on Friday to close at $191.13, after trading between $189.47 and $194.49, with about 179.5 million shares changing hands, according to Investing.com data.
The OpenAI angle is not new, but it is getting louder. Reuters reported on Jan. 29 that Nvidia, Amazon and Microsoft were in talks to invest up to $60 billion in OpenAI, citing The Information, with Nvidia discussing an investment of up to $30 billion. The report said OpenAI was close to receiving “term sheets” — draft investment commitments — from the firms; Amazon and Microsoft declined to comment, while Nvidia and OpenAI did not immediately respond outside regular business hours. Reuters
For Nvidia, the link matters because OpenAI has been one of the flagship users of the company’s AI chips, and the size and structure of funding rounds can ripple through expectations for how hard the industry keeps spending on computing. A large raise could read through to demand for GPUs and related gear, but it also puts a spotlight on how dependent parts of the AI boom are on abundant capital.
There’s a risk case too. If the OpenAI round comes with tighter terms, a lower valuation than markets expect, or simply takes longer to close, sentiment around AI spending can cool quickly — especially with Nvidia’s shares still trading as a bellwether for the whole theme. Any shift in rate expectations would add pressure, because high-growth stocks tend to be more sensitive to changes in borrowing costs.
In the next session, traders will watch whether Huang’s comments change expectations for the OpenAI financing and whether other backers weigh in. They will also be tracking any fresh signals on Warsh’s path to confirmation and the inflation and policy debate that drove Friday’s move.
Beyond Monday, the next hard catalyst is Nvidia’s quarterly results. The company has scheduled its fourth-quarter and fiscal 2026 results for Feb. 25, including a webcast event on its investor relations site.
