Clear Investment Strategy
Nvidia investment empire, its current investment portfolio spans diverse sectors, including chips, biotech, robotics, and self-driving cars, with investments including several leading AI model developers. The company is also actively developing quantum computing startups, an emerging technology seen as potentially groundbreaking for AI development.
Securing its position as a leader in Silicon Valley’s tech scene, Nvidia is leveraging its extensive capital and sought-after AI chips to acquire equity in emerging AI companies and stay abreast of industry trends.
Direct acquisitions are also possible
These investments also reveal potential acquisition targets for Nvidia. Earlier this year, Nvidia directly acquired CentML after participating in its 2023 seed round. CNBC reported last week that Nvidia first invested in Enfabrica, an internet infrastructure company, and subsequently invested $900 million to recruit its CEO and license its technology.
Nvidia’s current investment portfolio spans diverse sectors, including chips, biotech, robotics, and self-driving cars, with investments including several leading AI model developers. The company is also actively developing quantum computing startups, an emerging technology seen as potentially groundbreaking for AI development.
Investment Goal
Nvidia’s August financial report showed it currently holds $4.33 billion in publicly traded stocks, including investments in companies such as Applied Digital, ARM, CoreWeave, Nebius Group, Recursion Pharmaceuticals, and WeRide. As of the end of July, the company’s privately traded equity securities were valued at $3.8 billion, doubling from $1.8 billion in the same period last year.
Most of the companies in Nvidia’s portfolio are strategically linked to its core business. These companies either develop chip-related technologies, provide chip leasing services, or apply chips to AI, enterprise software, and robotics.
Just in September, Nvidia pledged a $5 billion investment in its former rival Intel and also announced a $500 million investment in self-driving car startup Wayve.
There will be no exclusivity clauses
Despite this, a Nvidia spokesperson emphasized to CNBC, “We do not require our investee companies to use Nvidia technology.” In the OpenAI partnership, for example, Nvidia only holds “preferred supplier” status, not an exclusive partner. Cohere, an enterprise AI startup invested by Nvidia, announced this week that it will use AMD chips in addition to Nvidia chips.
Investing $100 Billion in OpenAI
On September 26, Nvidia announced a $100 billion investment in OpenAI, the chip giant’s largest investment ever, highlighting the company’s accelerated expansion of its investment portfolio following the rise of generative AI in 2022.
Nvidia’s strong revenue growth has led to a surge in cash flow, and given the strict regulatory environment surrounding mergers and acquisitions, investments have become an ideal channel for capital utilization. She believes the OpenAI investment is a “win-win,” allowing Nvidia to absorb some of its cash flow while expanding its influence in AI chip applications.
It is unclear whether Nvidia’s $100 billion investment in OpenAI will result in an equity stake in the company.
DGX Cloud Transformation
Nvidia previously launched its own cloud service, DGX Cloud, but recently stopped offering it to general customers. Because its own costs were too high and uncompetitive, it will only use DGX Cloud for internal products and projects.
Key to this is that it will rely on CoreWeave going forward and will no longer build its own data centers. Sources indicate that Nvidia has placed a $6.3 billion order with CoreWeave, a cloud AI infrastructure provider.
List of companies Nvidia invested in since 2017
| Company name | Ticker | Year |
| TuSimple | TSPH | 2017 |
| WeRide | WRD | 2017 |
| SoundHound AI | SOUN | 2017 |
| CoreWeave | CRWV | 2023 |
| Arm Holdings | ARM | 2023 |
| Serve Robotics | SERV | 2024 |
| Applied Digital | APLD | 2024 |
| Recursion Pharmaceuticals | RXRX | 2024 |
| Intel | INTC | 2025 |
| Charm Therapeutics | Private | 2023 |
| Inflection AI | Private | 2023 |
| AI21 Labs | Private | 2023 |
| Imbue | Private | 2023 |
| Cohere | Private | 2023 |
| CentML | Private | 2023 |
| Perplexity | Private | 2023 |
| Charm Therapeutics | Private | 2023 |
| Databricks | Private | 2023 |
| Hugging Face | Private | 2023 |
| Kore AI | Private | 2024 |
| Nano X | Private | 2024 |
| Luna AI | Private | 2024 |
| Bright Machines | Private | 2024 |
| Twelve Labs | Private | 2024 |
| Ayar Labs | Private | 2024 |
| Scale AI | Private | 2024 |
| Wayve | Private | 2024 |
| Figure AI | Private | 2024 |
| Enfabrica | Private | 2024 |
| Mistral AI | Private | 2024 |
| xAI | Private | 2025 |
| OpenAI | Private | 2025 |
| Nscale | Private | 2025 |
| Dyna Robotics | Private | 2025 |
| MetAI | Private | 2025 |
| Basecamp Research | Private | 2025 |
| Latent Labs | Private | 2025 |
| Synthesia | Private | 2025 |
| PolyAI | Private | 2025 |
| Oxa | Private | 2025 |
| Wayve | Private | 2025 |
| AXA | Private | 2025 |
| PolyAI | Private | 2025 |
| Revolut | Private | 2025 |
| Quantinuum | Private | 2025 |
| Nuro | Private | 2025 |
| Field AI | Private | 2025 |
| Reka | Private | 2025 |
| TerraPower | Private | 2025 |
| PsiQuantum | Private | 2025 |
| MetAI | Private | 2025 |
| Together AI | Private | 2025 |
| Lambda | Private | 2025 |
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