Nvidia has solidified its role as a dominant force in the AI investment landscape, pouring over $40 billion into equity stakes in AI firms during the early months of 2026 alone, as reported by CNBC. A substantial portion of this sum stems from a single massive bet: a $30 billion investment in OpenAI. Beyond that, the chipmaker has announced several multi-billion-dollar deals in publicly traded companies, including recent commitments of up to $3.2 billion in glass manufacturer Corning and up to $2.1 billion in data center operator IREN.

This aggressive investment strategy extends beyond public markets. We have previously cataloged Nvidia’s investments in AI startups, which included 67 venture deals in 2025. According to FactSet data, the company has already participated in roughly two dozen funding rounds for private startups in 2026. However, the fact that Nvidia often invests in companies that are also its customers has drawn recurring criticism, with skeptics labeling these as circular deals that simply shuffle money among the same players.

Wedbush Securities analyst Matthew Bryson acknowledged that Nvidia’s investments fall “squarely into the circular investment theme.” Still, he suggested that if these bets prove successful, they could help the company build a formidable “competitive moat.”