Nvidia, a leading technology company known for its graphics processing units (GPUs), has dramatically increased its stock investments over the past two years. As of July 26, the company holds $99 billion in investments in other technology firms, a sharp increase from $2.2 billion in 2024, according to its latest financial report. This includes $48 billion in shares of publicly traded companies, $48 billion in private companies, and $3 billion in minority stakes, which are accounted for using a specific accounting method. Additionally, Nvidia has committed an extra $25 billion in investment agreements, placing it among the top technology investors globally, behind Alphabet and Amazon, whose investment portfolios exceed $100 billion each. A significant portion of Nvidia’s $99 billion portfolio—$51 billion—comes from two major investments: Intel and SpaceX. Nvidia invested $5 billion in Intel in September 2025, and by June 30, that stake was valued at $30 billion due to a rise in Intel's stock. SpaceX, a space exploration and technology company, was valued at $21 billion during the same period. Nvidia also holds smaller but notable stakes in other firms, including CoreWeave, a cloud provider for artificial intelligence, with investments ranging from $2 to $5 billion. Nvidia has also heavily invested in artificial intelligence (AI) development, allocating $30 billion to OpenAI as part of a global fundraising effort totaling $110 billion. According to Colette Kress, Nvidia's chief financial officer, AI labs are limited in their ability to improve products and attract users due to a lack of computational power. Nvidia sees itself as essential in supporting this growth and has invested nearly $50 billion in various AI research labs. The company also finances cloud providers like CoreWeave and Nebius, giving them capital to purchase Nvidia’s graphics processors. Additionally, Nvidia has invested $6.5 billion in photonics companies, which use light instead of electricity to transmit data, including firms like Lumentum, Coherent, and Marvell. Nvidia’s investment strategy is designed to strengthen its position in the tech industry by ensuring its partners rely on its technology. According to analyst Naveen Chhabra from Forrester, Nvidia’s investments help maintain compatibility with its architecture, making it more costly for companies to switch to competitors like AMD. The company recently acquired Hugging Face, a platform for open-source AI models, for $12.9 billion, giving it direct control over a previously independent software infrastructure. Nvidia states that these moves aim to improve growth, build its ecosystem, and enhance its competitive edge. While Nvidia's strategy has drawn praise from some analysts, it has also raised concerns. Michael Burry, a well-known investor featured in the film The Big Short, warned that Nvidia is "going too far" by financing the very companies that use its chips. Similarly, Mark Cuban, a former investor on Shark Tank, expressed concern that the AI industry's rapid growth is overly dependent on Nvidia's funding. These critiques highlight the potential risks of a tech giant exerting such influence over its ecosystem.