Nvidia's $99 Billion AI Portfolio: A Detailed Look at Its Key Holdings
Nvidia's $99 billion investment portfolio is an extensive map of the artificial intelligence (AI) supply chain, according to its latest quarterly report. The company's CFO, Colette Kress, said that Nvidia has 'invested nearly $50 billion in frontier AI labs.'
The three biggest names in this category are OpenAI, valued at $30 billion, Anthropic with a value of up to $10 billion, and Safe Superintelligence at $5 billion. These companies are burning cash on compute faster than they can raise alternative financing like debt, making Nvidia both a components supplier and banker.
Nvidia's investment strategy also targets the neocloud layer, where CoreWeave and Nebius build racks on Nvidia hardware and rent capacity to developers who cannot get enough supply from traditional hyperscalers. The physical plumbing layer of the AI infrastructure stack is another key focus area, with photonics and optics companies like Coherent, Lumentum, Marvell Technology, and Nokia being key partners.