Nvidia held $99 billion in equity investments as of July 26, up from approximately $7 billion 12 months earlier and $2.2 billion two years earlier, as it expanded from a chip designer into a major strategic investor. The portfolio included about $48 billion in marketable securities, $48 billion in non-marketable securities and $3 billion in equity-method investments, alongside $25 billion in additional commitments and more than $40 billion committed during 2026. Its disclosed public holdings were concentrated in Intel and SpaceX, which together represented more than 80% of the portfolio. Nvidia says the strategy supports the AI ecosystem, growth opportunities and competitive positioning, while critics including Michael Burry and Mark Cuban question whether it finances demand for Nvidia chips. The strategy also includes a planned $12.93 billion acquisition of Hugging Face, expected to close in the first half of 2027, subject to the transaction terms.