Nvidia's Equity Investments Surge 10x Year-Over-Year to $99B, With Nearly $50B Flowing to AI Labs

CNBC reports Nvidia's equity investments hit $99B as of July 26, up from ~$7B a year earlier and $2.2B two years ago. Nearly $50B sits in AI labs — including a planned $30B stake tied to OpenAI's $110B round, plus $2B checks into CoreWeave and Nebius. Nvidia has also committed ~$6.5B since March to photonics/optical firms Lumentum, Coherent and Marvell, embedding itself throughout the AI supply chain.