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Stephen Bartholomeusz Senior business columnist September 23, 2025 — 12.08pm

The artificial intelligence ecosystem in the US is becoming increasingly interdependent as the sheer scale of the capital it requires is forcing the larger players into coalitions.

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. Nvidia shares rose almost 4 per cent on the announcement, taking its ma

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