{"entity":{"id":"nvidia","name":"NVIDIA","short":"Nvidia","kind":"public","ticker":"NVDA","note":"Invests in the labs and clouds that buy its GPUs: OpenAI, Anthropic, xAI, CoreWeave, Nebius, Crusoe, Lambda, Mistral, Intel."},"outEdges":[{"id":"3edc34d48f78","from":"nvidia","to":"openai","type":"equity_investment","amountUsdB":100,"amountNote":"Letter of intent only: 'up to $100B progressively as each gigawatt is deployed' (10 GW). Never became a definitive agreement; Huang, 2026-03-04: 'probably not in the cards'. Superseded by a $30B equity cheque and the $105B lease guarantee.","announced":"2025-09-22","status":"cancelled","source":"https://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems","sourceLabel":"NVIDIA newsroom","altSource":"https://www.cnbc.com/2026/03/04/nvidia-huang-openai-investment.html","confidence":"high"},{"id":"bd0a22854579","from":"nvidia","to":"openai","type":"equity_investment","amountUsdB":30,"amountNote":"Part of the $122B round closed 2026-03-31 at $852B post-money (Amazon $50B, SoftBank $30B, Nvidia $30B). Huang: this 'might be the last' Nvidia investment in OpenAI.","announced":"2026-02-27","status":"closed","source":"https://www.cnbc.com/2026/02/27/open-ai-funding-round-amazon.html","sourceLabel":"CNBC","altSource":"https://techcrunch.com/2026/03/31/openai-not-yet-public-raises-3b-from-retail-investors-in-monster-122b-fund-raise/","confidence":"high"},{"id":"ac57b2afbd23","from":"nvidia","to":"openai","type":"debt","amountUsdB":105,"amountNote":"Up to. A lease GUARANTEE, not a loan: Nvidia stands behind up to $105B of OpenAI's lease obligations for an SB Energy data-center campus in Pike County, Ohio (first capacity due 2028), and pays only if OpenAI does not. Reported at about $250B in July and 'under $120B' on Aug 14 before Nvidia's filing set the cap.","announced":"2026-08-17","status":"announced","source":"https://www.cnbc.com/2026/08/17/nvidia-financing-open-ai-data-center-ohio.html","sourceLabel":"CNBC (citing Nvidia 8-K)","altSource":"https://fortune.com/2026/08/18/openai-data-center-deal-with-nvidia-comes-in-145-billion-lower-than-reportedsignaling-concerns-of-artificial-demand-for-chips/","confidence":"high"},{"id":"093c8530a8b2","from":"nvidia","to":"anthropic","type":"equity_investment","amountUsdB":10,"amountNote":"Up to $10B committed 2025-11-18; the Series G release (February 2026) says the round 'includes a portion' of it. Funded amount not disclosed.","announced":"2025-11-18","status":"partial","source":"https://www.anthropic.com/news/microsoft-nvidia-anthropic-announce-strategic-partnerships","sourceLabel":"Anthropic","altSource":"https://www.anthropic.com/news/anthropic-raises-30-billion-series-g-funding-380-billion-post-money-valuation","confidence":"medium"},{"id":"d59e7232abba","from":"nvidia","to":"xai","type":"equity_investment","amountUsdB":2,"amountNote":"Strategic investor in the $20B Series E closed 2026-01-06 (Nvidia and Cisco named by xAI); 'as much as $2B' per CNBC; valuation about $230B, reported.","announced":"2026-01-06","status":"closed","source":"https://www.cnbc.com/2026/01/06/elon-musk-xai-raises-20-billion-from-nvidia-cisco-investors.html","sourceLabel":"CNBC","altSource":"https://x.ai/news/series-e","confidence":"medium"},{"id":"4f6651df32b1","from":"nvidia","to":"coreweave","type":"equity_investment","amountUsdB":0.25,"amountNote":"$250M anchor order in the IPO at $40/share (IPO raised $1.5B, priced below range). Nvidia was already an early investor (2023) and held ~$900M of CoreWeave stock as of 2025-03-31 (13F).","announced":"2025-03-28","status":"closed","source":"https://www.cnbc.com/2025/03/27/nvidia-to-anchor-coreweave-ipo-at-40-a-share-source-says.html","sourceLabel":"CNBC","altSource":"https://www.cnbc.com/2025/05/15/nvidia-owned-900-million-worth-of-coreweave-shares-q1-filing-shows.html","confidence":"high"},{"id":"df704ddb1b15","from":"nvidia","to":"coreweave","type":"compute_contract","amountUsdB":6.3,"amountNote":"Initial value; order form under the 2023 MSA: Nvidia is 'obligated to purchase the residual unsold capacity' through 2032-04-13, i.e. a demand backstop for CoreWeave's Nvidia-GPU fleet.","announced":"2025-09-09","status":"closed","source":"https://www.sec.gov/Archives/edgar/data/1769628/000176962825000047/crwv-20250909.htm","sourceLabel":"CoreWeave 8-K","altSource":"https://www.cnbc.com/2025/09/15/coreweave-stock-jumps-on-disclosure-of-6point3-billion-order-from-nvidia.html","confidence":"high"},{"id":"0f8258c3aa7b","from":"nvidia","to":"coreweave","type":"equity_investment","amountUsdB":2,"amountNote":"Class A shares at $87.20; tied to a plan to add >5 GW of capacity by 2030 and early access to new Nvidia products.","announced":"2026-01-26","status":"closed","source":"https://investors.coreweave.com/news/news-details/2026/NVIDIA-and-CoreWeave-Strengthen-Collaboration-to-Accelerate-Buildout-of-AI-Factories/default.aspx","sourceLabel":"CoreWeave IR","altSource":"https://www.bloomberg.com/news/articles/2026-01-26/nvidia-invests-another-2-billion-in-coreweave-offers-new-chip","confidence":"high"},{"id":"4e49784e0d6c","from":"nvidia","to":"nebius","type":"equity_investment","amountUsdB":2,"amountNote":"Strategic investment toward more than 5 GW of Nebius capacity by 2030. On 2026-07-21 Nvidia disclosed a 9.3% stake (shares plus a warrant from the deal).","announced":"2026-03-11","status":"closed","source":"https://nvidianews.nvidia.com/news/nvidia-and-nebius-partner-to-scale-full-stack-ai-cloud","sourceLabel":"NVIDIA newsroom","altSource":"https://www.cnbc.com/2026/07/21/nebius-stock-nvidia-stake-neocloud.html","confidence":"high"},{"id":"e029f90f9ed1","from":"nvidia","to":"lambda","type":"compute_contract","amountUsdB":1.5,"amountNote":"Reported (The Information): Nvidia leases back ~18,000 of its own GPUs from Lambda over four years ($1.3B + $0.2B contracts), making Nvidia Lambda's largest customer; Nvidia is also a Lambda investor.","announced":"2025-09-08","status":"reported","source":"https://www.datacenterdynamics.com/en/news/nvidia-signs-15bn-deal-to-lease-its-gpus-back-from-lambda-report/","sourceLabel":"DCD, citing The Information","confidence":"medium"},{"id":"b492ef7d8771","from":"nvidia","to":"crusoe","type":"equity_investment","amountNote":"Nvidia participated in Crusoe's $600M Series D (Dec 2024) and $1.375B Series E (Oct 2025, >$10B valuation); Nvidia's cheque size undisclosed. Date approximate (October 2025).","announced":"2025-10-01","status":"closed","source":"https://www.crusoe.ai/resources/newsroom/crusoe-announces-series-e-funding","sourceLabel":"Crusoe newsroom","confidence":"high"},{"id":"9dc70eefed01","from":"nvidia","to":"intel","type":"equity_investment","amountUsdB":5,"amountNote":"Common stock at $23.28/share (~4% of Intel); FTC cleared 2025-12-18, closed 2025-12-26; paired with joint NVLink-based x86/RTX product development.","announced":"2025-09-18","status":"closed","source":"https://nvidianews.nvidia.com/news/nvidia-and-intel-to-develop-ai-infrastructure-and-personal-computing-products","sourceLabel":"NVIDIA newsroom","altSource":"https://www.cnbc.com/2025/12/29/nvidia-takes-5-billion-stake-in-intel-under-september-agreement.html","confidence":"high"},{"id":"4cbbb320cb1a","from":"nvidia","to":"us_gov","type":"revenue_share","amountNote":"15% of H20 China sales as a condition of export licences (August 2025); H200 later allowed with a 25% cut (December 2025). Realised payments not disclosed.","announced":"2025-08-11","status":"announced","source":"https://www.cbsnews.com/news/nvidia-amd-chip-sales-china-15-percent-h20-mi308","sourceLabel":"CBS News (Reuters/FT-reported, confirmed by Trump)","altSource":"https://www.cnbc.com/2026/02/26/nvidia-china-chip-sales-export-controls-ai-competition.html","confidence":"medium"},{"id":"53ec56383d0e","from":"nvidia","to":"groq","type":"acquisition","amountUsdB":20,"amountNote":"~$20B cash for Groq assets + non-exclusive licence to its inference technology + hiring of CEO and senior team; Groq continues as an independent company. ~3x Groq's Sept 2025 valuation ($6.9B). Nvidia's largest deal ever.","announced":"2025-12-24","status":"closed","source":"https://www.cnbc.com/2025/12/24/nvidia-buying-ai-chip-startup-groq-for-about-20-billion-biggest-deal.html","sourceLabel":"CNBC","confidence":"high"},{"id":"f8c05c266efc","from":"nvidia","to":"mistral","type":"equity_investment","amountNote":"Existing investor that 'committed more cash' in the Series C; amount undisclosed. Mistral also buys Nvidia systems (Mistral Compute, 2025).","announced":"2025-09-09","status":"closed","source":"https://mistral.ai/news/mistral-ai-raises-1-7-b-to-accelerate-technological-progress-with-ai/","sourceLabel":"Mistral AI","confidence":"high"}],"inEdges":[{"id":"e196b0ba231a","from":"openai","to":"nvidia","type":"chip_supply","amountNote":"At least 10 GW of Nvidia systems; first GW on Vera Rubin targeted 2H 2026. Dollar value undisclosed; LOI-level commitment, equity leg dropped.","announced":"2025-09-22","status":"announced","source":"https://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems","sourceLabel":"NVIDIA newsroom","confidence":"medium"},{"id":"e3d9309f32a5","from":"oracle","to":"nvidia","type":"chip_supply","amountUsdB":40,"amountNote":"Reported (FT): ~400,000 GB200 chips for the 1.2 GW Abilene Stargate site leased to OpenAI for 15 years.","announced":"2025-05-23","status":"reported","source":"https://www.datacenterdynamics.com/en/news/oracle-to-spend-40bn-on-nvidia-chips-for-openai-texas-data-center/","sourceLabel":"DCD, citing Financial Times","confidence":"medium"},{"id":"c04541d8ef14","from":"anthropic","to":"nvidia","type":"chip_supply","amountNote":"'Initially up to one gigawatt of compute capacity with NVIDIA Grace Blackwell and Vera Rubin systems.' No dollar figure.","announced":"2025-11-18","status":"announced","source":"https://www.anthropic.com/news/microsoft-nvidia-anthropic-announce-strategic-partnerships","sourceLabel":"Anthropic","confidence":"high"},{"id":"4f3e66c90c03","from":"meta","to":"nvidia","type":"chip_supply","amountNote":"Multiyear, multigenerational agreement to deploy 'millions' of Blackwell and Rubin GPUs, Grace CPUs and Spectrum-X networking; financial value not disclosed.","announced":"2026-02-17","status":"announced","source":"https://nvidianews.nvidia.com/news/meta-builds-ai-infrastructure-with-nvidia","sourceLabel":"NVIDIA newsroom","altSource":"https://www.cnbc.com/2026/02/17/meta-nvidia-deal-ai-data-center-chips.html","confidence":"high"}],"outUsdB":184.05,"inUsdB":40,"partners":[{"id":"openai","name":"OpenAI","outUsdB":135,"inUsdB":0,"deals":3,"circular":true},{"id":"oracle","name":"Oracle","outUsdB":0,"inUsdB":40,"deals":1,"circular":false},{"id":"groq","name":"Groq","outUsdB":20,"inUsdB":0,"deals":1,"circular":false},{"id":"anthropic","name":"Anthropic","outUsdB":10,"inUsdB":0,"deals":2,"circular":true},{"id":"coreweave","name":"CoreWeave","outUsdB":8.55,"inUsdB":0,"deals":3,"circular":false},{"id":"intel","name":"Intel","outUsdB":5,"inUsdB":0,"deals":1,"circular":false},{"id":"xai","name":"xAI","outUsdB":2,"inUsdB":0,"deals":1,"circular":false},{"id":"nebius","name":"Nebius Group","outUsdB":2,"inUsdB":0,"deals":1,"circular":false},{"id":"lambda","name":"Lambda","outUsdB":1.5,"inUsdB":0,"deals":1,"circular":false},{"id":"meta","name":"Meta Platforms","outUsdB":0,"inUsdB":0,"deals":1,"circular":false},{"id":"crusoe","name":"Crusoe","outUsdB":0,"inUsdB":0,"deals":1,"circular":false},{"id":"us_gov","name":"US federal government","outUsdB":0,"inUsdB":0,"deals":1,"circular":false},{"id":"mistral","name":"Mistral AI","outUsdB":0,"inUsdB":0,"deals":1,"circular":false}],"circularPairs":[{"a":{"id":"openai","name":"OpenAI","short":"OpenAI","kind":"private","valuationUsdB":852,"valuationAsOf":"2026-03-31","valuationSource":"https://www.cnbc.com/2026/03/31/openai-funding-round-ipo.html","note":"$122B round closed 2026-03-31 at $852B post-money (Amazon $50B, SoftBank $30B, Nvidia $30B). Confidential draft S-1 submitted to the SEC on 2026-06-08."},"b":{"id":"nvidia","name":"NVIDIA","short":"Nvidia","kind":"public","ticker":"NVDA","note":"Invests in the labs and clouds that buy its GPUs: OpenAI, Anthropic, xAI, CoreWeave, Nebius, Crusoe, Lambda, Mistral, Intel."},"aToB":[{"from":"openai","to":"nvidia","type":"chip_supply","amountNote":"At least 10 GW of Nvidia systems; first GW on Vera Rubin targeted 2H 2026. Dollar value undisclosed; LOI-level commitment, equity leg dropped.","announced":"2025-09-22","status":"announced","source":"https://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems","sourceLabel":"NVIDIA newsroom","confidence":"medium"}],"bToA":[{"from":"nvidia","to":"openai","type":"equity_investment","amountUsdB":30,"amountNote":"Part of the $122B round closed 2026-03-31 at $852B post-money (Amazon $50B, SoftBank $30B, Nvidia $30B). Huang: this 'might be the last' Nvidia investment in OpenAI.","announced":"2026-02-27","status":"closed","source":"https://www.cnbc.com/2026/02/27/open-ai-funding-round-amazon.html","sourceLabel":"CNBC","altSource":"https://techcrunch.com/2026/03/31/openai-not-yet-public-raises-3b-from-retail-investors-in-monster-122b-fund-raise/","confidence":"high"},{"from":"nvidia","to":"openai","type":"debt","amountUsdB":105,"amountNote":"Up to. A lease GUARANTEE, not a loan: Nvidia stands behind up to $105B of OpenAI's lease obligations for an SB Energy data-center campus in Pike County, Ohio (first capacity due 2028), and pays only if OpenAI does not. Reported at about $250B in July and 'under $120B' on Aug 14 before Nvidia's filing set the cap.","announced":"2026-08-17","status":"announced","source":"https://www.cnbc.com/2026/08/17/nvidia-financing-open-ai-data-center-ohio.html","sourceLabel":"CNBC (citing Nvidia 8-K)","altSource":"https://fortune.com/2026/08/18/openai-data-center-deal-with-nvidia-comes-in-145-billion-lower-than-reportedsignaling-concerns-of-artificial-demand-for-chips/","confidence":"high"}],"aToBUsdB":0,"bToAUsdB":135},{"a":{"id":"anthropic","name":"Anthropic","short":"Anthropic","kind":"private","valuationUsdB":965,"valuationAsOf":"2026-05-28","valuationSource":"https://www.anthropic.com/news/series-h","note":"Series G: $30B at $380B post-money (2026-02-12). Series H: $65B at $965B post-money (2026-05-28; run-rate revenue above $47B). Confidential draft S-1 submitted on 2026-06-01."},"b":{"id":"nvidia","name":"NVIDIA","short":"Nvidia","kind":"public","ticker":"NVDA","note":"Invests in the labs and clouds that buy its GPUs: OpenAI, Anthropic, xAI, CoreWeave, Nebius, Crusoe, Lambda, Mistral, Intel."},"aToB":[{"from":"anthropic","to":"nvidia","type":"chip_supply","amountNote":"'Initially up to one gigawatt of compute capacity with NVIDIA Grace Blackwell and Vera Rubin systems.' No dollar figure.","announced":"2025-11-18","status":"announced","source":"https://www.anthropic.com/news/microsoft-nvidia-anthropic-announce-strategic-partnerships","sourceLabel":"Anthropic","confidence":"high"}],"bToA":[{"from":"nvidia","to":"anthropic","type":"equity_investment","amountUsdB":10,"amountNote":"Up to $10B committed 2025-11-18; the Series G release (February 2026) says the round 'includes a portion' of it. Funded amount not disclosed.","announced":"2025-11-18","status":"partial","source":"https://www.anthropic.com/news/microsoft-nvidia-anthropic-announce-strategic-partnerships","sourceLabel":"Anthropic","altSource":"https://www.anthropic.com/news/anthropic-raises-30-billion-series-g-funding-380-billion-post-money-valuation","confidence":"medium"}],"aToBUsdB":0,"bToAUsdB":10}]}