Follow Huang Renxun to buy: Nvidia's heavy holdings and core list for potential IPO 1. Intel INTC Intel was once regarded as an outdated chip factory, but Huang Renxun stepped in at a low level. Nvidia invested $5 billion in December 2025 at a price of $23.28, with a corresponding market value of approximately $125 billion and a stake of about 4%. What it wants is Intel's x86 ecosystem and US production capacity, soldering GPUs and CPUs together with NVLink. AI factories cannot rely solely on graphics cards, but also need CPU partners capable of large-scale supply. 2. CoreWeave CRWV The most typical son of NVIDIA. Approximately $100 million was invested in 2023 (valued at around $2 billion at the time), bringing the total to around $235 million. CoreWeave specifically rents Nvidia GPUs to large clients to train models, and the more orders there are, the more chips they buy. It is not a storytelling cloud, but a downstream wholesaler that directly monetizes computing power. 3. SpaceX SPCX The path is a bit convoluted: Nvidia first invested $10 billion in xAI in January 2026 (that round raised about $20 billion), and then xAI merged with SpaceX and went public, holding about 123 million shares and holding approximately 0.9% of the shares. Musk later publicly stated that the AI computing power will be exclusively used by Nvidia. What you are buying is not only rockets and Starlink, but also a super customer who is rapidly expanding its AI factory and only uses Nvidia chips. 4. New Thinking Technology SNPS The chip needs to draw a blueprint first. Nvidia invested $2 billion in December 2025 at a price of $414.79, with a market value of approximately $77 billion and a stake of approximately 2.6%. Xinsi is developing EDA design software, and Nvidia is pushing it from CPU simulation to GPU acceleration, reducing the design cycle from weeks to hours. This is a drawing company that was upstream before selling shovels, with extremely high customer stickiness. 5. Nebius NBIS AI cloud with European background, a competitor of CoreWeave. Nvidia will participate in a small amount by the end of 2024, and will invest another $2 billion in March 2026 at a price of approximately $94.94, with a market value of approximately $24 billion at that time. Both parties also agreed to rush to AI factories with a capacity of over 5GW. Nvidia not only provides funding, but also bundles its next-generation chips and cluster management, making it a direct beneficiary stock that requires more cloud computing to digest GPUs. 6. Coherent COHR The next step for AI cabinets is to fully assemble them without copper. Nvidia will invest approximately $2 billion in March 2026 at a rate of $256.80. The higher the cabinet and the faster the bandwidth, the more essential the optical module is. Nvidia's simultaneous commitment to procurement and expansion support is equivalent to being both a shareholder and a major customer. Optical communication has become the blood vessel of AI factory from supporting role. 7. Maxwell MRVL Huang Renxun invested $2 billion in March 2026 to customize AI chips for cloud giants, which appeared to be competitors on the surface. The reason is very practical: even if customers make their own dedicated chips, they still have to connect them to Nvidia's NVLink. This is pulling companies that may divert GPU orders onto their own highways. Maiweier eats both customized chips and silicon photonics at the same time. 8. Langmeitong LITE On almost the same day, they each received 2 billion US dollars. Nvidia subscribed for preferred stock for $695.31 and promised to make large purchases in the future to help it build factories in the United States. 800G and 1.6T optical modules are standard for AI cabinets, and production capacity used to be a bottleneck. Nvidia's willingness to lock in production capacity indicates that this is a key component that can afford to install the next generation of factories. 9. OpenAI is not publicly available The largest IPO in terms of volume. Nvidia will participate in a round of approximately $122 billion in February March 2026, investing $30 billion (partly in computing power commitments), with an estimated pre investment valuation of $730 billion/post investment valuation of $852 billion. Huang Renxun even said that this may be OpenAI's last large stake before going public. The appeal is simple: the company behind ChatGPT is one of the most aggressive customers in the world for buying Nvidia chips, with Nvidia serving as both a supplier and a shareholder. There is no code yet, but it is already the default super IPO candidate in the market. 10. Solana: Ren1FvFX6J3E4kXhJuCiAD5aDmGEb7qJRncwA8Lkhw not listed Nvidia made significant investments around the valuation round of approximately $380 billion (publicly reported ranging from around $3-10 billion), and subsequently raised another $65 billion in May 2026, with a post investment valuation of $965 billion. The market is even discussing trillion dollar IPOs. It competes with OpenAI for the same big cake, but has officially entered the market channel, and the pace may be faster. 11. VNet is not available on the market The data+AI platform is not about building big models, but about helping enterprises run data and models. Nvidia participated in a round in 2023, with a valuation of approximately $43 billion at the time; By August 2026, the company will have raised an additional $5 billion and invested approximately $190 billion. The CEO said they still want to go public, but it may be given to SpaceX, OpenAI, Anthropic in 2026, and more likely in 2027. The attraction lies in its ability to make money and grow rapidly, making it one of the few quasi IPO software giants that is not purely a money burning story.