Nvidia
Nvidia’s equity investments reached $99 billion as of July 26, up from about $7 billion a year earlier as the chipmaker expanded its backing across the AI industry. Unsplash

Nvidia has built a $99 billion equity investment portfolio alongside its booming chip business, putting billions of dollars into artificial intelligence companies ranging from frontier model developers to cloud providers and businesses supplying the infrastructure needed to run AI systems.

The value of Nvidia's equity investments stood at $99 billion as of July 26, up from about $7 billion a year earlier and $2.2 billion two years ago, CNBC detailed Friday. The chipmaker has committed more than $40 billion to financing deals during 2026, with OpenAI, CoreWeave and Nebius among the companies receiving its money.

Nvidia said the investments are intended to expand its ecosystem, create growth opportunities and strengthen its competitive position. Its latest quarterly filing shows holdings in both publicly traded and privately held companies, with gains in technology stocks contributing to the increase in the portfolio's value.

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Nvidia invested $30 billion in OpenAI as part of the ChatGPT maker's $110 billion funding round announced earlier this year, making it one of the largest recipients of the chipmaker's investment push. Chief Financial Officer Colette Kress said during Nvidia's latest earnings call that the company had invested nearly $50 billion across frontier AI labs, where demand for computing capacity has grown faster than some companies' balance sheets can support.

Nvidia has also put billions into specialized AI cloud providers, including a $2 billion investment in CoreWeave in January that nearly doubled its existing stake as the company expanded its U.S. data center footprint. CoreWeave said the proceeds would be used for land, power, infrastructure, research and hiring rather than purchases of Nvidia chips, Reuters noted.

Another $2 billion went to Nebius in March as Nvidia increased its investments in companies providing computing capacity to AI developers. Nebius and CoreWeave operate so-called neocloud businesses that buy large numbers of graphics processing units and rent access to that computing power to customers building and running AI models.

Some of Nvidia's earlier investments have also risen sharply in value. Its $5 billion investment in Intel was worth about $30 billion by the end of its latest quarter, while its SpaceX holding was valued at about $21 billion as of June, CNBC reported.

Nvidia reported $96.2 billion in second-quarter revenue, up 106% from a year earlier, while Data Center revenue climbed 117% to $89 billion. Net income reached $59.7 billion for the quarter ended July 26.

The chipmaker agreed Thursday to acquire AI developer platform Hugging Face for $12.93 billion, extending its spending beyond minority stakes in other technology companies. Hugging Face hosts models, datasets and development tools widely used by researchers and companies working with open-source AI, and CEO Jensen Huang said the platform would remain open and interoperable after the acquisition.

In August, Nvidia announced partnerships with major investment firms aimed at mobilizing more than $500 billion in financing for infrastructure using its GPUs. The company separately offered up to $105 billion in conditional credit support for an OpenAI data center in Ohio.

Nvidia's largest cloud customers continue to account for a significant share of its business, with the hyperscale segment contributing $48.7 billion of the company's $96.2 billion in second-quarter revenue.

Nvidia said in its latest quarterly results that its Vera Rubin platform is now in full production, with systems running at CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure and Nebius. Amazon Web Services is also deploying an additional 2 million Nvidia GPUs beginning this quarter through the second quarter of fiscal 2029, the company said.