By Daily,Editor

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Chipmaker Nvidia is planning toinvest up to £75billion in artificial intelligence pioneer OpenAI.

The companies last night announced a ‘landmark strategic partnership’ that will involve OpenAI building new data centres powered by Nvidia’s AI processors.

The deal comes as competition intensifies among technology giants to secure access to the energy and chips required for AI growth.

Hailing ‘the next leap forward’ in AI, Nvidia chief executive Jensen Huang said: ‘This is a giant project.’

Nvidia and OpenAI, the company behind the ChatGPT system, have been at the forefront of the AI boom. Huang and

OpenAI boss Sam Altman joined US President Donald Trump on his State Visit to the UK last week. The deal will see Nvidia invest in OpenAI in stages and receive equity in return.

For its part, OpenAI will purchase millions of Nvidia processors, which could generate billions of dollars of revenues for the chipmaker.

‘Nvidia invests in OpenAI, which OpenAI then turns back and gives to Nvidia,’ Bryn Talkington, partner at US wealth manager Requisite Capital Management, told TV outlet CNBC. ‘I feel like this is going to be very virtuous for Jensen.’

Nvidia’s shares rose 3.7 per cent yesterday, giving it a value of £3.2trillion.