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Dec 3, 2025 8:00 AM

Nvidia CFO Says No 'Definitive Agreement' With OpenAI Yet, Dismisses Google TPU Threat

Despite the initial announcement, the $100 billion potential deal between Nvidia Corp. (NASDAQ:NVDA) and OpenAI is yet to be finalized, the company’s CFO revealed on Tuesday.

Deal With OpenAI Still In Early Stage

At the UBS Global Technology and AI Conference in Scottsdale on Tuesday, Nvidia’s EVP and CFO, Colette Kress informed investors that the much-publicized partnership with OpenAI is still at the letter-of-intent stage, reported Fortune. Kress said that they still had not completed a “definitive agreement.”

Still, Kress stressed that Nvidia's relationship with OpenAI remains solid and added that the company's current sales forecast isn't tied to the new megadeal.

For now, OpenAI continues to buy compute through cloud partners like Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL) instead of using the new direct arrangement outlined in the letter of intent. Kress stated that OpenAI “does want to go direct,” but a definitive agreement is still being worked on.

OpenAI’s Competitive And Financial Struggle

The $100 billion potential deal between Nvidia and ...

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