*Photo Credit: David Paul Morris/Bloomberg / Getty Images*

According to CNBC, Nvidia has shown astonishing investment momentum at the start of 2026—the chipmaker has already committed more than $40 billion to equity investments in AI companies.

Of this $40 billion, the largest single investment is $30 billion to OpenAI. But Nvidia’s investment landscape extends far beyond that. Public information shows that the company has also announced seven multi-billion-dollar investments in listed companies, with the two most recent being up to $3.2 billion in Corning, a glass manufacturer, and up to $2.1 billion in IREN, a data center operator.

Looking back at 2025, Nvidia participated in 67 venture capital deals for AI startups. Entering 2026, according to data from FactSet, it has already participated in about 20+ rounds of investments in private startups.

This investment strategy raises a core question: When Nvidia invests in its own customers, is the capital just circulating among the same group of companies?

Wedbush Securities analyst Matthew Bryson bluntly stated that Nvidia’s investments “fully align with the theme of circular investment.” However, he also pointed out that if these investments succeed, they may help Nvidia build a “competitive moat.”

In other words, Nvidia is not just selling chips—it is building a complete AI ecosystem through capital deployment. This strategy of both providing computing power infrastructure and participating in application layer development has allowed Nvidia to occupy a unique position in the AI wave.

From glass manufacturers to data center operators, Nvidia’s investments seem scattered, but in reality, they all revolve around key links in the AI industry chain. This comprehensive layout makes people wonder: Is Nvidia actually investing in others, or is it paying for its own future?