Nvidia's equity investments reached $99 billion as of July 26, up from about $7 billion a year earlier and $2.2 billion two years earlier, making it one of the world's largest strategic technology investors. The company committed more than $40 billion in 2026 across the AI stack, investing in frontier AI labs, neoclouds (specialized cloud providers), infrastructure companies and emerging technologies. Holdings include OpenAI, CoreWeave, Nebius, Intel and SpaceX, while Nvidia said its investments are intended to expand growth opportunities, cultivate its ecosystem and strengthen its competitive position. The company also announced partnerships intended to mobilize more than $500 billion in financing for its graphics processing units (GPUs), offered up to $105 billion of conditional credit support for an OpenAI data center in Ohio, and said Thursday it plans to acquire Hugging Face for $12.9 billion. Nvidia's strategy combines financing and equity stakes to support demand for its chips, broaden its customer base and reinforce its position as AI infrastructure scales. Its stock rose 33% over the past 12 months, while fiscal second-quarter revenue surged 106% to $96.2 billion, including $48.7 billion from the Hyperscale segment. The company said it had invested nearly $50 billion in frontier AI labs, including a planned $30 billion investment in OpenAI as part of a $110 billion funding round announced in February. It also invested $2 billion in CoreWeave in January and Nebius secured a $2 billion investment in March. Since March, Nvidia committed at least $6.5 billion to photonics and optical technology companies, including $2 billion each for Lumentum, Coherent and Marvell. Analysts said the investments can help customers buy Nvidia GPUs, secure manufacturing and component supplies, and encourage technologies compatible with Nvidia's architecture and CUDA software.