Nvidia commits over $40 billion to AI equity deals in 2026

According to data reported by CNBC, Nvidia has committed more than $40 billion to equity investments in artificial intelligence companies in early 2026. This capital deployment represents an expansion of the company’s footprint across the technology sector. While a single transaction accounts for the vast majority of this capital, CNBC reports that the chipmaker has also announced seven multibillion-dollar investments in publicly traded companies. These public market commitments highlight Nvidia’s strategy of backing companies across different parts of the technology ecosystem, ranging from artificial intelligence developers to glassmakers and data center operators. These investments show the breadth of Nvidia’s capital deployment, which spans both physical infrastructure and artificial intelligence development.

These major public market commitments in early 2026 include:

• A $30 billion investment in OpenAI, which accounts for the vast majority of the total capital committed by the chipmaker.
• An investment of up to $3.2 billion in glassmaker Corning.
• An investment of up to $2.1 billion in data center operator IREN.

Beyond its public market activity, Nvidia remains active in the private startup ecosystem. According to data from FactSet, the company has already participated in around two dozen investment rounds in private startups in early 2026. This deal-making builds directly upon the company’s investment activity from the previous year. In 2025, Nvidia participated in 67 venture deals, establishing itself as an active backer of artificial intelligence startups. This continued participation in private rounds highlights the company’s dual approach of targeting both established public entities and private startups across the broader artificial intelligence landscape.

However, Nvidia’s strategy of investing in its own customer base has drawn scrutiny and recurring criticism. Because many of the recipients of Nvidia’s capital are also buyers of its hardware, critics argue that these transactions represent circular deals moving money back and forth between the same companies. This criticism focuses on the relationship between Nvidia’s investment arm and its core hardware sales, raising questions about the flow of capital between the chipmaker and its customers. Matthew Bryson, an analyst at Wedbush Securities, noted that Nvidia’s investments fall squarely into the circular investment theme. Despite these concerns, Bryson suggested that if these strategic investments are successful, they could ultimately help the company build a “competitive moat.”

Why it matters

Nvidia’s significant investment activity in AI companies, including its own customers, has drawn criticism regarding circular deal-making, though analysts suggest these investments may help the company establish a competitive advantage.