Jensen Huang Nvidia Q1 Portfolio: $18.4 Billion Heavy Bet on AI Infrastructure Map Based on 13F filings disclosed in mid-May and concurrent strategic investments, Nvidia's Q1 2026 portfolio reached a total scale of $18.37 billion, up 40% from the previous quarter, with holdings expanding from 5 to 7 positions. Key Buys/Increases: - **Coherent (COHR):** New position established on March 2 with $1.9 billion, 10.1% allocation, +39.1% since investment - **Marvell (MRVL):** Non-13F, $200 million strategic investment on March 31, +83.5% since investment - **CoreWeave (CRWV):** Shares increased by 94.5%, adding 22.9 million shares, now holding $3.66 billion, 19.91% allocation, YTD +50% - **Intel (INTC):** $9.48 billion, 51.58% largest allocation, YTD +177% - **Nebius (NBIS):** Non-13F, $200 million strategic investment, YTD +102% - **Synopsys (SNPS):** $1.91 billion, 10.4% allocation, YTD +21% - **Nokia (NOK):** Approximately $1.3 billion-level holding, YTD +110% to +150% No reductions or liquidations during the same period. The buying focus is highly concentrated on the AI infrastructure chain, which can be broken down into five main lines: 1. **Compute Power:** CoreWeave, Nebius, IREN—GPU super clients driving continuous demand 2. **Networking:** Marvell, Nokia—addressing AI cluster interconnect bottlenecks 3. **Optical Communication:** Coherent, Lumentum, Corning—optical upgrades beyond copper cable limits 4. **Design Tools:** Synopsys—EDA software, a must-have for chip design 5. **Supply Chain Revival:** Intel—advanced manufacturing in the U.S. + domestic capacity The entire portfolio is essentially a map of AI infrastructure, with no holdings in application layers, software, agents, or consumer internet.