Nvidia’s $3B AI bets reveal winners and laggards in its secret portfolio
Nvidia, the world's largest company by market value, has built a vast investment portfolio beyond its core AI business. Recent filings reveal major stakes in six tech firms, ranging from data centres to autonomous vehicles. While some bets like Nvidia stock have surged in value, others have yet to deliver strong returns.
The chipmaker's largest holding is in CoreWeave, a cloud computing provider leasing Nvidia GPU-powered servers. That stake is now worth around $3 billion. Another high performer is Nebius Group, where Nvidia's $134 million investment has seen shares climb over 300% this year.
Applied Digital, a data centre operator, represents a $169 million position. Arm Holdings, the British semiconductor designer, accounts for $152 million of Nvidia's portfolio. Both align with the company's focus on AI infrastructure.
In contrast, Nvidia's $50 million bet on Recursion Pharmaceuticals—a biotech firm using AI for drug discovery—has struggled, with the stock falling since the purchase. Its $19 million stake in Chinese autonomous vehicle startup WeRide has also seen limited growth so far.
Looking ahead, Nvidia plans to spend $100 billion over several years backing OpenAI, the creator of ChatGPT. A separate $5 billion investment in Intel is also in the works.
Nvidia's core investments in data centres and AI infrastructure have outperformed its ventures in biotech and autonomous vehicles. With billions earmarked for OpenAI and Intel, the company continues to expand beyond its traditional chipmaking business. The long-term success of these bets remains to be seen.
