Nvidia CEO Jensen Huang said the company’s recent $30 billion investment in OpenAI “might be the last time” it invests in the artificial intelligence startup before it could go public toward the end of the year.

Huang said the opportunity to invest $100 billion in OpenAI, which was the figure that the two companies touted as part of an infrastructure deal in September, is probably “not in the cards.”

“The reason for that is because they’re going to go public,” Huang said during the Morgan Stanley Technology, Media & Telecom Conference on Wednesday.

Huang also mentioned that Nvidia’s $10 billion investment in OpenAI rival Anthropic would likely be its last.

Nvidia’s $30 billion investment in OpenAI was unveiled as part of a $110 billion funding round that the startup announced on Friday. The round also included a $50 billion commitment from Amazon and a $30 billion commitment from SoftBank.

The September announcement, which rocked the tech sector and sparked a flurry of subsequent infrastructure deals, outlined a structure where Nvidia would invest in OpenAI over several years as it brought new supercomputing facilities online. It’s $30 billion investment, by contrast, is not tied to any deployment milestones.

Questions about the scope of Nvidia’s relationship with OpenAI began swirling in November, when the chipmaker disclosed in a quarterly filing that the previously announced $100 billion deal may not come to fruition.

Nvidia included similar language in its quarterly filing in February, which noted that “there is no assurance that we will enter into an investment and partnership agreement with OpenAI or that a transaction will be completed.”