On Monday, Nvidia announced the biggest investment in its history, a $US100 billion ($151 billion) staged investment in OpenAI, which owns the popular ChatGPT chatbot. In return, OpenAI will over time buy $US100 billion worth of Nvidia’s world-leading chips. So, Nvidia essentially gives OpenAI the funds with which to purchase Nvidia chips in a deal that brings OpenAI within the orbit of the world’s most valuable company. The massive scale of capital required to develop AI is pushing industry giants like Nvidia into incestuous deals. Credit: BloombergIt’s not the only deal Nvidia has done that involves a certain level of circularity in its financing.