OpenAI deal marks the peak of Nvidia’s investment power
Nvidia has announced a staggering $100 billion investment commitment into OpenAI, marking the largest investment in its history and cementing its role as the central force behind the global AI race. This move, revealed just a week after the company invested $5 billion into former rival Intel, follows several other high-profile stakes, including $500 million in the self-driving startup Wayve and nearly $670 million in U.K.-based cloud provider Nscale.
The OpenAI deal will unfold over multiple years and reflects Nvidia’s growing influence as not just a chip supplier but a strategic investor. Its chips are essential for training advanced AI models, but increasingly, its capital is shaping which companies dominate the space.
Since 2022 — when ChatGPT made the world aware of the power behind Nvidia’s GPUs — the company’s market cap has soared from $420 billion to $4.3 trillion. Revenue has climbed from $27 billion to over $130 billion annually, and with rising cash flow, Nvidia has doubled down on equity investments.
More than chips: Building the AI ecosystem
Nvidia now holds stakes in over 50 companies in 2025 alone, with previous investments including Arm, CoreWeave, Applied Digital, Recursion Pharmaceuticals, and WeRide. Many of these companies use Nvidia’s chips or support adjacent technology, but usage is not a requirement. A company spokesperson confirmed that Nvidia does not impose tech conditions on its investments.
Notably, Nvidia is only the “preferred” — not exclusive — chip supplier for OpenAI. Other portfolio firms like Cohere are using AMD chips as well. Still, Nvidia’s involvement offers more than cash: it grants startups access to scarce GPU resources, insider strategic guidance, and market credibility.
In just three years, Nvidia’s nonmarketable equity holdings have risen from $1.8 billion to $3.8 billion. Publicly traded investments are valued at over $4.3 billion. As competition for AI infrastructure intensifies, Nvidia’s influence has become both financial and technical.
Strategic moves, exits, and future M&A signals
Some of Nvidia’s recent investments suggest potential future acquisitions. The company invested in CentML in 2023 before later acquiring it. Similarly, it backed Enfabrica before licensing its technology and hiring its CEO for $900 million. Analysts believe Nvidia’s venture moves could hint at more aggressive M&A strategies.
Nvidia’s reach also extends into quantum computing. The company joined a $1 billion round for PsiQuantum and participated in early-stage funding for Quantinuum — both of which aim to revolutionize computation for AI. These startups currently use Nvidia GPUs to simulate quantum machines.
Other big-ticket deals include Nvidia’s involvement in a $2 billion round for Safe Superintelligence and a $2 billion raise for Thinking Machine Labs. Nvidia also profited from its role in Scale AI, which struck a $14.3 billion deal with Meta, hiring its CEO and staff.
Cloud provider CoreWeave, in which Nvidia holds a 7% stake, reported a $6.3 billion order from Nvidia and completed a successful IPO. Nvidia also invested in Lambda Labs, another AI cloud firm, participating in its $480 million Series D.
Nvidia’s new role: Investor, influencer, kingmaker
Beyond product innovation, Nvidia is now reshaping the financial landscape of artificial intelligence. Its position on a startup’s cap table can signal prestige, drawing follow-on funding and increased investor interest. Intel shares jumped 18% the day Nvidia revealed its stake.
With regulators scrutinizing traditional acquisitions, Nvidia’s equity approach offers flexibility while influencing the AI ecosystem from within. According to analysts, this “vertical investment” model sidesteps antitrust concerns while giving Nvidia insight, influence, and access across sectors.
As AI scales across industries — from biotech to robotics, from cloud to quantum — Nvidia isn’t just powering the revolution. It’s funding it, shaping it, and choosing the winners.
