Nvidia (NVentures + strategic stakes)
Jensen Huang (founder/CEO); NVentures is Nvidia's corporate VC arm, with strategic balance-sheet stakes taken directly by the company.
Nvidia uses its balance sheet to seed the demand side of its own GPU flywheel: it takes equity in the neocloud and infrastructure customers (CoreWeave, Nebius) that buy its chips at scale, plus strategic semiconductor stakes (a ~4% Intel position for x86 co-development) and supply-chain names (Synopsys, Nokia, Coherent). The investing is inseparable from the AI-compute trade because it is engineered to finance and accelerate Nvidia hardware deployment.
Top holdings
~$7.9B (~61% of 13F book) — $5B common-stock purchase at $23.28/sh closed Dec 2025; ~4% stake for x86 CPU co-development. Now Nvidia's single larges
up to $10B — Strategic investment announced Nov 2025 (alongside Microsoft); tied to Anthropic’s ~$30B Azure/Nvidia compute commitment
~$3.66B (~11% of CRWV) — Neocloud GPU renter; Nvidia raised stake to ~47.2M shares in Q1 2026, second-largest 13F holding. Center of the 'circula
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Our take
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