Nvidia Concentrates 95% of Its $4.3B Portfolio in Two AI Stocks

Nvidia's treasury strategy reveals a laser-focused bet on artificial intelligence, with 95% of its $4.3 billion public equity portfolio allocated to just two companies. CoreWeave commands 91% of the position, while Arm Holdings claims the remaining 4%.

CoreWeave's dominance as an AI cloud infrastructure provider stems from its privileged access to Nvidia's latest chips. The company beat competitors to market with H100, H200, and GB200 GPU deployments—a technological edge that secured partnerships with Microsoft and OpenAI. Second-quarter revenue surged 206% to $1.2 billion, validating Nvidia's conviction.

Arm Holdings' architecture powers nearly all mobile AI processors, positioning it as a silent enabler of the smartphone AI revolution. The 4% allocation suggests Nvidia sees long-term value in chip design intellectual property as AI workloads diversify beyond data centers.