Nvidia says that it plans to invest $100 billion in OpenAI to partner on building new data centers and artificial intelligence infrastructure. According to a joint release from the two companies on September 22, OpenAI and Nvidia have signed a letter of intent, but are still working to finalize the deal in the coming weeks. Servers in the data centers will be equipped with Nvidia's advanced chips to train and operate AI models. Nvidia will also receive equity in OpenAI, and be OpenAI's preferred supplier for chips and networking equipment. The companies are hoping to complete the first phase of the project sometime in the back half of 2026, but have not yet specified where exactly the data centers will be located.