Nvidia Plans $18 Billion AI Investment Spree

Nvidia has committed $18 billion to equity investments in AI model makers, infrastructure financiers, and other private companies for the rest of its fiscal year, expanding far beyond its core chip business. The company held $47.9 billion in private companies as of late July, more than double the $22.3 billion from the end of the last fiscal year. Recent moves include a $1.5 billion investment in SB Energy, a stake in Cloverleaf Infrastructure, and a multibillion-dollar deal with coding startup Poolside. The aggressive dealmaking, often taking minority stakes rather than outright acquisitions, draws criticism over circular financing, with Nvidia acting as supplier, financer, and shareholder to many chip buyers. CFO Colette Kress defended the strategy, citing excellent returns and limited risk.