Nvidia, Amazon and Microsoft in talks to invest up to $60 billion in OpenAI, report says

OpenAI is not a decade-old public giant; however, the valuation now being discussed would put the company in the same league as the world's biggest firms.

Reuters reported, OpenAI is in discussions regarding a funding package that could reach $60 billion. The reports splits Nvidia discussing around $30 billion, Microsoft less than $10 billion, and along with Amazon's earlier talks with OpenAI, it could exceed $20 billion. The term sheets are said to be nearing.

Reuters said it could not independently verify The Information’s report, and noted that Amazon and Microsoft declined to comment while Nvidia and OpenAI did not immediately respond.

Amazon’s separate track points to a much bigger raise

Amazon’s numbers look even larger in a parallel report. Amazon is in talks to invest up to $50 billion as part of a broader $100 billion effort that would value OpenAI at around $830 billion.

The report also noted that Amazon CEO Andy Jassy is leading negotiations with CEO Sam Altman. The report described Amazon’s talks as early-stage, and said OpenAI is positioning itself for a future IPO with a target valuation of $1 trillion.

The leverage fight is really about compute and distribution

Amazon’s potential investment could hinge on separate negotiations, including an expanded cloud server rental deal and a commercial pathway to sell OpenAI products, such as enterprise ChatGPT subscriptions, through Amazon.

This could also be tied to the fundraising push to OpenAI’s expanding infrastructure moves, including a reported $10 billion agreement with chipmaker Cerebras.

Here Amazon is negotiating its way in, so it asks surface first. Whereas Nvidia and Microsoft already sit close to OpenAI’s core dependencies like chips and enterprise channels, so their leverage is baked in even if specific demands are not.

SoftBank is part of the same mega-round gravity

SoftBank is not a side plot here. The company is in discussions to invest an additional $30 billion as the mega-round expands toward the $100 billion figure and the $830 billion valuation scenario. The CNA report also noted SoftBank and OpenAI did not immediately respond, and said SoftBank completed a $41 billion investment last year that gave it an estimated 11% stake.

OpenAI’s underlying need is straightforward as model training and deployment costs keep rising, and competition keeps tightening. But the financing is about more than just runway. It is about gaining access to the next level of infrastructure.

If the rumors of an $830 billion valuation are true, the round itself becomes less interesting than the fine print. The investors named here are not passive backers. They are the platforms OpenAI uses to scale, and this raise will decide how tightly that reliance gets written into the future.