Nvidia (NVDA) Stock: A Look Inside Its $99 Billion AI Investment Portfolio
Key Takeaways
- •Nvidia held $99 billion in equity investments and $25 billion in additional commitments as of July 26, making it one of the most active corporate investors in AI.
- •Nvidia's public equity holdings declined from $63.44 billion on June 30 to $46.43 billion by early September, driven mainly by Intel's falling share price.
- •Nvidia's private portfolio includes 163 active investments worth roughly $48 billion, headlined by $30 billion in OpenAI and up to $10 billion committed to Anthropic.
- •The company reported quarterly revenue of $96.22 billion, up 105.9% year over year, with EPS of $2.22 beating the $2.09 consensus.
- •Nvidia's board approved an $80 billion share repurchase plan, and 55 analysts maintain a Moderate Buy consensus with an average price target of $324.83.
Nvidia stock opened at $230.36 on Monday, trading near its 52-week high of $236.54, as fresh details emerge about the sheer scale of the chipmaker's investment portfolio.
A $99 Billion Equity Portfolio
As of July 26, Nvidia reported holding $99 billion in equity investments, along with a further $25 billion in equity investment commitments. That positions the chipmaker in a league of its own when it comes to AI investment firepower. The strategy mirrors Nvidia's approach across its ecosystem: by taking stakes in AI labs, cloud providers, and chip-adjacent suppliers, the company effectively recycles a portion of its data-center windfall into customers and partners that in turn buy its GPUs, tying its balance sheet to the broader buildout of AI infrastructure.
On the public side, Nvidia's last detailed filing, dated June 30, valued its listed positions at $63.44 billion. According to Dow Jones Market Data, that figure had fallen to $46.43 billion by early September.
The bulk of that decline came from Intel. Nvidia's stake in the struggling chipmaker fell from around $30 billion to roughly $19 billion over the period, reflecting Intel's sharp share-price slide since Nvidia agreed to the $5 billion investment announced in September 2024.
Other public holdings include CoreWeave, SpaceX, Coherent, Nokia, Synopsys, Nebius, and Generate Biomedicines. Nvidia also holds warrants and convertible instruments in Corning, IREN, Marvell, Lumentum, and MediaTek worth billions more.
Private Holdings Tell a Bigger Story
Nvidia's private portfolio is where the scale becomes most striking. According to FactSet, the company has 163 active private investments with a combined value of around $48 billion as of July 26. That deal count places Nvidia among the most active corporate investors in AI, rivaling the pace traditionally associated with large venture firms.
Its two headline bets are OpenAI and Anthropic. Nvidia put $30 billion into OpenAI in February at a $730 billion valuation. It also committed up to $10 billion in Anthropic, which was valued at around $350 billion at the time of the deal.
Those valuations could look very different soon. According to the Wall Street Journal, Anthropic is targeting a valuation of around $2 trillion in the coming months, and OpenAI is expected to aim for something similar. For Nvidia, markups on those positions would flow into reported results, as equity gains in companies it influences have already contributed to its non-operating income.
Beyond those two, Nvidia made a reported $5 billion investment in Safe Superintelligence, the company co-founded by former OpenAI chief scientist Ilya Sutskever. It has also put $1 billion into Poolside, roughly $800 million into Reflection AI, and recently agreed to invest $1.5 billion in SB Energy — the latter reflecting how AI data centers are straining electricity demand, making power generation itself an AI-adjacent investment theme.
Analysts Maintain Positive Sentiment
On the earnings front, Nvidia reported quarterly revenue of $96.22 billion for its most recent quarter, up 105.9% year over year. EPS came in at $2.22, beating the consensus estimate of $2.09.
Analyst sentiment remains firmly positive. Sanford C. Bernstein raised its price target to $400, while Bank of America has a $350 target. Across 55 analysts, the consensus sits at a "Moderate Buy" with an average price target of $324.83.
Institutional investors own 65.27% of NVDA stock. Venturi Wealth Management added 15,227 shares in Q2, bringing its total to 340,034 shares worth approximately $68 million.
On the insider side, Director Mark Stevens sold 885,000 shares in June at an average price of $210.17. EVP Timothy Teter sold 30,000 shares on August 31 at $217.88 under a pre-arranged 10b5-1 plan.
Nvidia's board has also approved an $80 billion share repurchase plan. A quarterly dividend of $0.25 per share is set for October 1, with a record date of September 10.
What to watch next: further detail in Nvidia's upcoming 13F filings on how the Intel position is managed, and whether the reported OpenAI and Anthropic valuation rounds close at the levels discussed, which would materially revalue the private book.
This article appeared first on CoinCentral.
