OpenAI deal report sparks circular-deal concerns

A Morningstar piece flags that reported arrangements between Nvidia and OpenAI could create circular economic flows and raise governance/transaction transparency questions; Morningstar still views Nvidia shares as undervalued, so the takeaway is reputational and disclosure risk rather than an immediate financial shock. Investors should monitor confirmation/details of any deal structure and potential regulatory or partner responses that could affect GPU demand or supply dynamics.