Nvidia is sharply increasing investment across the AI infrastructure supply chain, CNBC reported on May 9.

Nvidia has already signed investment commitments of more than $40 billion in 2026 and is expanding its portfolio to listed companies, the report said. This week alone, Nvidia secured rights to invest up to $2.1 billion in data centre operator IREN and up to $3.2 billion in fibre optics company Corning.

Nvidia's investment strategy is also delivering results. Its $5 billion bet on Intel has grown to a value of more than $25 billion. In the last fiscal year, Nvidia invested $17.5 billion in private companies and infrastructure funds. Its holdings of private, unlisted shares rose sharply to $22.25 billion as of end-January from $3.39 billion a year earlier.

Nvidia CEO Jensen Huang (젠슨 황) said, "There are so many great foundation model companies, I want to support everyone. I don't pick winners." He added, "Investment is focused on expanding the ecosystem's scope."

The largest single investment was $30 billion in ChatGPT developer OpenAI. Nvidia also participated in large funding rounds for Anthropic and xAI led by Elon Musk. In the neocloud segment, it invested $2 billion each in CoreWeave and Nebius Group. In photonics, it invested $2 billion each in Marvell Technology, Lumentum and Coherent.

Some have voiced concerns about Nvidia-style investing. Mizuho chip analyst Jordan Klein said investing in component companies is smart, but pointed to neocloud investments as "appearing to fund in advance so they buy its GPUs."