Nvidia’s $43B startup portfolio shows how much power sits around the AI stack

Nvidia is no longer just the company selling the chips. It is becoming one of the most strategically important investors around the AI ecosystem.

What happened

Nvidia revealed a large startup holdings portfolio alongside another record quarter, showing the scale of its exposure to private AI companies.

Why it matters

This gives Nvidia influence beyond hardware sales. By investing across the AI stack, it can deepen relationships with companies building on its infrastructure.

The bigger picture

The AI market is increasingly shaped by companies that control compute, capital, and ecosystem access. Nvidia sits at the centre of all three.