New York, Feb 20, 2026, 06:47 EST — Premarket
- Nvidia shares edged down ahead of U.S. cash trading after a Reuters report on an OpenAI investment
- Deal talk lands days before Nvidia’s quarterly results, with guidance in focus
- Chip stocks were mixed in early trading
Nvidia shares dipped 0.1% to $187.90 in premarket trading on Friday after Reuters reported the chipmaker is close to finalizing a $30 billion investment in OpenAI. (Reuters)
The proposed stake is huge even by Silicon Valley standards, and it lands in a jittery tape where investors have started to question how long the AI spending boom can run at the same clip. It also puts Nvidia’s biggest customers and partners back in the center of the trade.
For Nvidia holders, the timing matters. The company is due to report quarterly results next week, and the market tends to treat its outlook as a read-through on data center demand and the pace of orders for AI chips.
OpenAI is seeking more than $100 billion in the round, which would value the ChatGPT maker at about $830 billion, according to a person familiar with the matter cited by Reuters. SoftBank and Amazon are also likely to participate, Reuters has reported.
A big chunk of the fresh capital is expected to go toward buying Nvidia chips that power the training and deployment of OpenAI’s models, the person said. Nvidia declined to comment, Reuters reported.
The investment would replace a commitment announced in September under which Nvidia would invest up to $100 billion to support OpenAI’s use of its chips in data centers, the Reuters report said. The deal has taken longer than both parties expected, the person added.
Elsewhere in chips, the iShares Semiconductor ETF was down 0.6% in premarket trading. Advanced Micro Devices rose 1.6% and Broadcom added 0.1%.
Investors’ next checkpoint is Nvidia’s forecast and CEO Jensen Huang’s comments on customer capital spending — the budget big companies set aside for items like data centers and servers. “Hyperscalers,” the largest cloud firms that build vast data centers, have signaled higher spending, but expectations for Nvidia are already heavy, Marta Norton at Empower said in a Reuters Week Ahead column. “And so it’s hard for Nvidia to surprise when everyone expects it to surprise,” she said. (Reuters)
But the OpenAI round is not done, and that’s the risk. If the fundraising slips, valuations reset, or customers slow orders after a wave of build-outs, Nvidia can still trade like the first derivative of big AI budgets — fast on the way up, and fast the other way on any stumble.
Nvidia is scheduled to discuss fourth-quarter results on Feb. 25 at 5 p.m. ET, with the outlook and any color on OpenAI and broader AI infrastructure demand likely to drive the next leg in the stock. (Nvidia)
