Nvidia has already committed $40B to equity AI deals this year
Nvidia's $40B AI investment spree in 2026 raises circular deal concerns.
Nvidia has already committed more than $40 billion to equity investments in AI companies in just the first months of 2026, according to CNBC. The bulk of this total comes from a single $30 billion bet on OpenAI. Beyond that, the chipmaker announced seven multi-billion dollar investments in publicly traded companies, most recently up to $3.2 billion in glassmaker Corning and up to $2.1 billion in data center operator IREN. In 2025, Nvidia completed 67 venture deals in AI startups, and FactSet data shows it has participated in roughly two dozen private startup rounds in 2026 so far.
The scale of Nvidia's investments has drawn criticism that they represent circular deals, funneling money back and forth between the same companies, since many recipients are also customers of Nvidia's chips. Wedbush Securities analyst Matthew Bryson noted the pattern falls “squarely into the circular investment theme” but argued that if successful, these bets could help Nvidia build a “competitive moat.” By strategically propping up AI infrastructure and key suppliers, Nvidia may secure long-term demand for its GPUs and create an ecosystem more dependent on its hardware.
- Nvidia committed over $40B to AI equity deals in early 2026, including $30B in OpenAI.
- Multi-billion investments include $3.2B in Corning and $2.1B in data center operator IREN.
- Critics call these circular investments; analyst says they could build a competitive moat.
Why It Matters
Nvidia's deep pockets reshape the AI supply chain, raising regulatory and competition concerns while securing its dominance.