Nvidia’s $4.3 Billion AI Portfolio: These 6 Stocks Are Leading the Charge - Here’s Which One Dominates
Nvidia just dropped $4.3 billion on AI plays—and one stock stands out from the pack.
The chip giant's massive bet signals where smart money's flowing in artificial intelligence. While Wall Street analysts debate valuations, Nvidia's putting real capital behind its convictions.
Six companies made the cut for this billion-dollar portfolio. Each represents a different slice of the AI ecosystem—from cloud infrastructure to edge computing solutions.
The standout? It's not who you'd expect. Forget the usual suspects—this play leverages AI in ways that bypass traditional tech paradigms entirely.
Meanwhile, hedge funds are still trying to explain why they missed this trend. Maybe they were too busy calculating their management fees.
Image source: Getty Images.
Nvidia's AI six-pack
As of June 30, 2025, Nvidia owned more than 7.7 million shares of(APLD 8.88%) worth $77.7 million. Applied Digital operates blockchain and high-performance computing data centers. The company is also in the process of selling its cloud services business.
Nvidia's 1.1 million shares of(ARM -2.56%) were valued at $178.1 million at the end of the second quarter of 2025. Arm is a leading developer of semiconductors, especially CPUs. Over 325 billion chips made by the company have been shipped during its more than three decades in business.
(CRWV -0.65%) ranks as Nvidia's largest investment, with its nearly 24.3 million shares worth roughly $3.96 billion at the end of Q2. AI is the center of CoreWeave's business. Its cloud platform was built from the ground up to support generative AI applications.
Like CoreWeave,(NBIS 1.24%) provides a full-stack cloud platform focused on AI. Nvidia's nearly 1.2 million shares of Nebius were valued at $65.9 million as of June 30, 2025. However, that stake is worth a lot more now: Nebius Group's shares recently skyrocketed after landing a multibillion-dollar deal with(MSFT 1.82%).
Why is drugmaker(RXRX -0.41%) on a list of AI stocks in Nvidia's portfolio? The company is a pioneer in using AI for drug discovery. Nvidia owned 7.7 million shares of Recursion worth almost $39 million at the end of Q2.
Chinese autonomous driving technology company(WRD -0.61%) is Nvidia's smallest equity investment. The GPU maker's stake in WeRide was valued at around $13.7 million at the end of Q2. WeRide uses Nvidia's technology in its robotaxis, mini-robobuses, and robovans.
How these AI stocks compare
Half of Nvidia's AI portfolio consists of large-cap stocks. Arm is by far the biggest of the group with a market cap of around $163 billion. CoreWeave's and Nebius Group's market caps are $57 billion and $22 billion, respectively.
There's only one small-cap stock in the mix -- Recursion Pharmaceuticals. However, the AI-focused drugmaker's market cap of $1.98 billion is nearly in the mid-cap category, along with WeRide and Applied Digital.
Unsurprisingly, Arm boasts the greatest revenue ($4.12 billion over the last 12 months) of these six stocks owned by Nvidia. But CoreWeave's trailing 12-month revenue of $3.53 billion isn't too far behind. The others have much smaller revenue, with WeRide standing at the top of the laggards, with trailing 12-month sales of roughly $410.5 million.
Arm is also the most profitable stock in the group, with trailing 12-month earnings of $699 million. All of the others are losing money right now, except for Nebius.
We can throw earnings-based valuation metrics out of the window in trying to compare these six stocks. However, there's a clear winner based on price-to-sales ratios: CoreWeave. The AI cloud platform provider's shares trade at 16.2 times trailing-12-month sales. Applied Digital comes in second place with a price-to-sales multiple of 23.7.
What about growth prospects? I suspect all of these stocks have room to run. Based on Wall Street earnings growth projections for next year, though, CoreWeave comes out on top again. Analysts think the company's earnings could soar more than 72% in 2026.
The best of the bunch
What's the best AI stock in Nvidia's portfolio? I think it's CoreWeave.
The main knock against CoreWeave is that it isn't profitable yet. However, the reason why that's the case is that the company continues to invest heavily in building out infrastructure to capitalize on its huge growth opportunity.
CoreWeave has the most attractive valuation and the strongest growth prospects (according to Wall Street, anyway) of the six AI stocks owned by Nvidia. I agree with analysts' bullish view about the stock. At least for now, CoreWeave looks like the best of the bunch.
