Nvidia’s equity investments in AI companies reached $99 billion as of July 26, up from approximately $7 billion 12 months earlier and about $2.2 billion two years ago. The company has committed more than $40 billion in 2026 as it expands across the AI sector, putting it among the world’s largest corporate technology investors, although Alphabet and Amazon each reported equity holdings above $100 billion in their latest earnings reports. Frontier AI labs received nearly $50 billion, according to CFO Colette Kress, while Nvidia also invested in neocloud infrastructure providers, photonics companies and strategic partners including Intel and SpaceX. The strategy gives Nvidia exposure to companies that may become future customers while encouraging adoption of its technology, analysts said. Nvidia’s recent commitments include up to $105 billion in conditional credit backing for an OpenAI data center in Ohio, a planned $12.9 billion acquisition of Hugging Face and a $3.5 billion convertible bond investment tied to MediaTek’s adoption of NVLink Fusion. Nvidia’s stock has risen 33% over the past 12 months.