Nvidia Builds Nearly $100 Billion Equity Investment Portfolio in Two Years

Nvidia's equity investment portfolio has reached nearly $100 billion, marking a 45-fold increase over the past two years. The investments are evenly split between $48 billion in public securities and $48 billion in private equity, alongside $3 billion in equity-method investments. By deploying massive capital into AI startups, infrastructure providers, and hardware partners, Nvidia is actively stimulating compute demand and reinforcing its dominance across the tech industry. However, this strategy of funding its own customer base has raised concerns about market concentration and ecosystem over-reliance. Major holdings disclosed include $30 billion in Intel shares and $21 billion in SpaceX, alongside investments between $2 billion and $5 billion each in CoreWeave, Coherent, Synopsys, and Nokia. CFO Colette Kress explained that compute constraints at frontier AI labs led Nvidia to invest nearly $50 billion directly into these labs to keep the AI development flywheel turning.