Follow Huang Renxun’s investments: NVIDIA’s major holdings and key pre-IPO names 👇 1. Intel $INTC Once written off as a fading chipmaker, Intel was quietly bought by Huang Renxun at a low point. In December 2025, NVIDIA invested $5 billion at $23.28 per share, valuing Intel at roughly $125 billion and securing a ~4% stake. NVIDIA sought Intel’s x86 ecosystem and U.S.-based manufacturing capacity—to integrate GPUs and CPUs via NVLink. An AI factory can’t rely solely on GPUs; it needs a CPU partner capable of massive-scale supply. 2. CoreWeave $CRWV The quintessential NVIDIA “child company.” NVIDIA invested around $100 million in 2023 (at a ~$2 billion valuation), bringing total investment to ~$2.35 billion. CoreWeave specializes in renting out NVIDIA GPUs to large clients for model training—the more orders it gets, the more chips it buys. It’s not a story-driven cloud provider; it’s a downstream wholesaler monetizing compute directly. 3. SpaceX $SPCX A slightly indirect path: In January 2026, NVIDIA invested $10 billion in xAI (part of a ~$20 billion funding round), after which xAI merged into SpaceX and went public. NVIDIA now holds ~123 million shares, or ~0.9%. Musk later publicly stated that AI compute would exclusively use NVIDIA chips. You’re not just buying rockets and Starlink—you’re investing in a hyper-scaling AI factory that has explicitly committed to using only NVIDIA hardware. 4. Synopsys $SNPS Chips must first be designed. In December 2025, NVIDIA invested $2 billion at $414.79 per share, acquiring ~2.6% of the company, then valued at ~$7.7 billion. Synopsys develops EDA design software; NVIDIA aims to shift its workflows from CPU simulation to GPU acceleration—cutting design cycles from weeks to hours. This is an even more upstream “shovel seller”—a highly sticky player providing the blueprints before fabrication. 5. Nebius $NBIS A European AI cloud provider, directly comparable to CoreWeave. NVIDIA made a small initial investment in late 2024 and followed up in March 2026 with a $2 billion investment at an implied price of ~$94.94 per share, valuing Nebius at ~$24 billion. Both parties have committed to building AI factories exceeding 5GW in capacity. NVIDIA is not just funding—it’s bundling next-gen chips and cluster management software, making Nebius a direct beneficiary needing more cloud infrastructure to absorb its GPU output. 6. Coherent $COHR The next frontier in AI racks isn’t copper—it’s optics. In March 2026, NVIDIA invested $2 billion at ~$256.80 per share. As rack density and bandwidth increase, optical modules become essential. NVIDIA has committed to both procurement and production scaling—acting simultaneously as shareholder and major customer. Optical communications have evolved from supporting role to the vital circulatory system of AI factories. 7. Marvell $MRVL Designs custom AI chips for cloud giants—appearing like a competitor, yet NVIDIA still invested $2 billion in March 2026. The rationale is pragmatic: even if customers build their own ASICs, they still need to connect them to NVIDIA’s NVLink fabric. This pulls potential GPU-displacing players into NVIDIA’s ecosystem. Marvell benefits from both custom chip design and silicon photonics. 8. Lumentum $LITE Invested alongside Coherent on nearly the same day—NVIDIA purchased preferred shares at $695.31 and committed to large-scale future purchases and helping build a U.S.-based factory. 800G and 1.6T optical modules are now standard in AI racks; capacity was once a bottleneck. NVIDIA’s willingness to lock in production capacity signals these are critical components for next-generation factories. 9. $OpenAI (Unlisted) The largest pre-IPO player by scale. In February–March 2026, NVIDIA participated in a ~$122 billion round, contributing $30 billion (partly as compute commitments), entering at a pre-money valuation of ~$730 billion and post-money of ~$852 billion. Huang Renxun even suggested this may be OpenAI’s final major equity round before IPO. The appeal is simple: the company behind ChatGPT is among the world’s most aggressive buyers of NVIDIA chips—NVIDIA is both supplier and shareholder. No code yet, but already the market’s default super-IPO candidate. 10. solana:Pren1FvFX6J3E4kXhJuCiAD5aDmGEb7qJRncwA8Lkhw (Unlisted) NVIDIA made significant investments around a ~$380 billion valuation (public reports range from $3–10 billion). The company then raised another $65 billion in May 2026, pushing its post-money valuation to $965 billion. The market is even discussing a potential $1 trillion IPO. It competes with OpenAI for the same massive opportunity—but has already formally entered the IPO pipeline and may move faster. 11. $Databricks (Unlisted) A data + AI platform—not building large models, but enabling enterprises to run data and models together. NVIDIA participated in an earlier round in 2023 when Databricks was valued at ~$43 billion; by August 2026, it raised another $5 billion, pushing its valuation to ~$190 billion. The CEO still plans an IPO, but 2026 may be reserved for SpaceX, OpenAI, and Anthropic—likely targeting 2027 instead. Its appeal lies in profitability and rapid growth—it’s one of the few pre-IPO software giants not just burning cash, but generating real revenue.