Nvidia Is Building an AI Infrastructure Empire

"Nvidia's investment portfolio operated as a modest initiative valued around $230 million two years ago, focusing on smaller companies and chip designers. By the end of 2025, however, the public equity portfolio alone had reached more than $13 billion, according to its 13F filing. This expansion stems directly from cash generated by Nvidia's core GPU sales, particularly in the data center segment, which have driven record revenue."

"Nvidia holds a significant stake in Intel valued at approximately $7.9 billion as of Dec. 31, following a $5 billion investment announced last September. The partnership calls for joint development of custom data center and client CPUs using Nvidia NVLink technology, with Intel handling design and manufacturing elements. This provides Nvidia with exposure to the x86 ecosystem and gives it options when it comes to chip manufacturing."

"In CoreWeave, Nvidia maintains a stake valued in the billions, with an additional $2 billion investment revealed last month at $87.20 per share. CoreWeave operates as an AI-focused cloud provider specializing in inference workloads and large-scale GPU clusters. The arrangement supplies Nvidia with cloud capacity without requiring significant capital expenditure."

Nvidia dominates AI infrastructure through GPU market leadership but pursues broader ecosystem control via strategic investments. The company's public equity portfolio expanded from $230 million two years ago to over $13 billion by end of 2025, funded by record data center GPU sales. Key investments include a $7.9 billion stake in Intel for joint CPU development using NVLink technology, providing access to x86 manufacturing capabilities, and billions invested in CoreWeave, an AI-focused cloud provider specializing in GPU inference workloads. These investments position Nvidia as an architect of the broader AI operating system rather than merely a chip supplier.

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