Nvidia owned these stocks in Q1 and they’re up big
Nvidia’s SEC filings disclosing its stakes in public companies have become market events.
The aura of AI chip giant Nvidia’s remains remarkably powerful, with fresh Securities and Exchange Commission filings disclosing the company’s Q1 stock holdings moving several shares on Friday. Here’s the key data from the filing:
The disclosure that Nvidia’s largest position is now in AI cloud computing company CoreWeave ignited the stock on Friday. Likewise, data center designer and operator Applied Digital — which had previously received investments from Nvidia — also surged on the disclosure that Nvidia hadn’t sold any of the shares. Other stocks that the company owned in Q1, like drug discovery company Recursion Pharmaceuticals and AI infrastructure company Nebius Group, similarly jumped on the disclosure.
Now, it’s not super unusual for companies to have equity investments in other companies.
In a section of the company’s annual report, Nvidia described some of its investment activities, saying:
“We acquire and invest in businesses that offer products, services and technologies that we believe will help expand or enhance our strategic objectives... Further, our investments in publicly traded companies could create volatility in our results and may generate losses up to the value of the investment.”
But because of the size of Nvidia, with a market cap of roughly $3.3 trillion, and the amount of money it can put to work, its stakes in public companies are large enough that they trigger SEC disclosure rules, generating filings such as those seen today.
And those filings have become market events in and of themselves. Nvidia’s disclosure of a stake in SoundHound AI in February 2024 catalyzed a massive move in that stock. Similarly, the appearance of Chinese self-driving company WeRide in Nvidia’s holdings in February generated a massive move in its shares.
