Nvidia reported equity investments worth $99 billion as of 26 July. That is more than ten times their value a year earlier. The holdings span frontier AI labs, cloud providers and infrastructure suppliers. Recipients include OpenAI, CoreWeave and Nebius. Nvidia's finance chief, Colette Kress, said nearly $50 billion has gone into frontier AI labs. Kress said those labs are growing faster than their balance sheets can support. Nvidia has also put at least $6.5 billion into photonics and optical firms since March. Its $5 billion Intel stake is now valued at $30 billion, and its SpaceX holding was worth $21 billion in June. Nvidia says the investments expand its ecosystem and strengthen its competitive position. Analysts at CCS Insight and Forrester say the stakes also lock partners into Nvidia's architecture.

• $99bn equity holdings at 26 July
• up from ~$7bn a year earlier
• over $40bn committed in 2026
• ~$50bn into frontier AI labs