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Nvidia's largest stock holding is CoreWeave, which has more than doubled since its March IPO.
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Changes in the prices of Nvidia's stock holdings have had a notable positive effect on its recent earnings.
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Nvidia's active investing can also help it identify attractive potential acquisitions.
Nvidia (NASDAQ: NVDA) stock has been a fantastic investment. And there are good reasons to believe that shares of the artificial intelligence (AI) technology infrastructure leader will continue to outperform over the long term.
One benefit of owning Nvidia stock that doesn't get enough coverage: When you buy the stock, you also get part ownership in the company's portfolio of AI-focused stocks, those both publicly traded and privately held. It's akin to owning an AI exchange-traded fund (ETF).
Nvidia has recently ramped up its investing activity, and its stock holdings are already large enough to move the needle on its overall financial results.
The below stocks are listed in order of their value in Nvidia's portfolio as of the end the second quarter. Nvidia is listed at the end for reference.
| Company | Core Business | Market Cap | Number of Shares Nvidia Owns / Nvidia's Percentage Stake as of End of Q2* | Value as of End of Q2 | Stock's Year-to-Date 2025 Return |
|---|---|---|---|---|---|
| CoreWeave (NASDAQ: CRWV) | Operates a graphics processing unit (GPU)-based AI cloud computing platform | $50.3 billion | 24.28 million / 5% | $3.96 billion | 158%** |
| Arm Holdings (NASDAQ: ARM) | Leading designer and licensor of central processing units (CPUs) | $146.5 billion | 1.10 million / 0.1% | $178.1 million | 12.1% |
| Applied Digital (NASDAQ: APLD) | Builds and operates GPU-based AI data centers | $4.2 billion | 7.72 million / 2.9% | $77.7 million | 109% |
| Nebius Group (NASDAQ: NBIS) | Operates a GPU-based AI cloud platform, and has several other operations | $16.3 billion | 1.19 million / 0.5% | $65.9 million | 147% |
| Recursion Pharmaceuticals (NASDAQ: RXRX) | Clinical-stage biotech using AI for drug discovery and development | $2.0 billion | 7.71 million / 1.8% | $39.0 million | (30.5%) |
| WeRide (NASDAQ: WRD) | China-based developer of autonomous driving tech and operator of robotaxis | $2.7 billion | 1.74 million / 0.6% | $13.7 million | (34%) |
| Total | -- | -- | -- | $4.33 billion | -- |
| Nvidia | AI tech infrastructure leader, including AI chip (GPU) leader | $4.2 trillion | -- | -- | 29.7% |
| S&P 500 | N/A | N/A | N/A | N/A | 10.8% |
Data sources: Nvidia's 13-F SEC filing, Yahoo! Finance, and YCharts. Market cap and stock performance data as of Friday, Aug. 29, 2025. *Calculation by author. **Since initial public offering (IPO) in March 2025.