Investors know Nvidia Corp.(NASDAQ:NVDA) as the company selling the picks and shovels of the AI gold rush. What Nvidia’s latest quarterly filing reveals, however, is that CEO Jensen Huang is also quietly building one of Silicon Valley’s largest AI investment portfolios.
Buried in the company’s latest Form 10-Q is a striking figure: Nvidia’s non-marketable equity securities—essentially its private-company investments—swelled to $42.3 billion as of April 26, up from $22.3 billion a year earlier.
Source: Nvidia 10-Q SEC filing
The scale of the increase is remarkable. During the quarter alone, Nvidia deployed $17.9 billion into private companies, helping transform what many investors view as a chipmaker into something that increasingly resembles an AI-focused investment fund.
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