Nvidia runs a $99B VC fund. Forget the chips.

People might still treat NVDA like a basic semiconductor stock, but data tells a completely different story. Nvidia reported $99 billion in existing equity investments, plus another $25 billion lined up in future commitments. Pretty much effectively running one of the biggest venture capital funds on the planet right now. Instead of just hoarding cash, they are aggressively buying up massive stakes across their own supply chain and software ecosystem. If they fund these companies, those companies basically become permanently locked into Nvidia's ecosystem. Moat or Monopoly? Source: [CNBC](https://www.cnbc.com/2026/09/04/nvidia-ai-investments-99-billion.html)