Nvidia CEO Jensen Huang announced at a major tech conference that his company will likely cease further investments in AI firms OpenAI and Anthropic, citing the anticipated public offerings from the AI rivals later this year as the primary reason.
TechCrunch reports that Nvidia CEO Jensen Huang revealed at the Morgan Stanley Tech, Media and Telecom conference that the chipmaker plans to pull back from additional investments in OpenAI and Anthropic. Speaking at the event, Huang stated that once both companies complete their expected initial public offerings later this year, the opportunity to continue investing will close.
The announcement comes as Nvidia already generates substantial revenue selling the advanced chips that power both AI companies’ operations. When asked for additional comment following Huang’s remarks, an Nvidia spokesman directed inquiries to a transcript from the company’s fourth-quarter earnings call.
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