Huang Renxun’s stock holdings: $12 billion buying up six stocks—INTC quadruples to lead the pack; is Marvell the “next trillion-dollar company”?

NVIDIA's latest 13F filing reveals a total disclosed stock holdings worth $18.4 billion, with private strategic investments totaling over $40 billion. Its six key holdings have increased in value by between 57% and 177% since the beginning of the year, and Jensen Huang publicly praised Marvell as "the next trillion-dollar company" during the COMPUTEX 2026 Taipei keynote speech.
(Background: Nvidia's spectacular Q1 financial report! Revenue hits $81.6 billion, setting a record, and Huang exclaims "The Age of Agentic AI is Here")
(Additional context: Huang Huang reveals "Token Economics" at GTC 2026: computing equals revenue, Nvidia begins full-scale production)

Table of Contents

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• Nvidia Stock Performance Summary
• Two "Invisible" Private Strategic Holdings
• Jensen Huang's "Public Endorsement" Record

Key Highlights

• NVIDIA's 13F discloses 7 holdings totaling $18.4 billion, with Intel as the largest position at 51.6%, up 177% this year
• Over $12 billion invested in strategic stakes in six AI supply chain companies within four months, including $2 billion each in Lumentum and Marvell
• Jensen Huang publicly endorsed Marvell as "the next trillion-dollar company" at COMPUTEX 2026, causing MRVL to jump 17% after hours

Six strategic investments have transformed Huang Huang from a chip industry pioneer into the largest financier of the AI supply chain, and every one of his holdings has appreciated this year. Nvidia's May 13F filing shows the world's leading chip giant holds seven publicly disclosed stocks worth a total of $18.4 billion. Interestingly, Huang Huang not only quietly bought these shares but also frequently endorses them publicly, each time triggering a stock price surge.

Nvidia Stock Performance Summary

The largest holding in the 13F is Intel (INTC), with $9.48 billion, accounting for 51.6% of the portfolio.

In September 2025, Nvidia subscribed to approximately 214 million shares at $23.28 each (about 4% equity), completing the transaction by year's end. Intel is the world's largest CPU designer and manufacturer, recently increasing investments in AI chips and wafer foundry services, signing multiple joint development agreements. The stock has soared 177.63% since the start of the year; the initial $5 billion investment is now worth more than four times that amount.

The second-largest holding is CoreWeave (CRWV), valued at $3.66 billion (19.9%). This AI cloud infrastructure provider, originally an Ethereum mining farm, specializes in high-performance GPU cloud computing platforms for AI training and inference. In January, Nvidia added about $2 billion at $87.20 per share, nearly doubling its stake (+95%).

CoreWeave's Q1 revenue reached $2.1 billion (up 111.6%), with a backlog of orders totaling $99.4 billion. Since the start of the year, its stock has increased by 57.36%, the most moderate among the six holdings, but with the largest dollar growth.

Coherent (COHR) is a new strategic stake of $2 billion, initiated on March 2 this year. Coherent manufactures optical materials, lasers, and optoelectronic components, mainly serving industrial, communications, electronics, and semiconductor markets, providing critical optical transceivers for AI data centers. Its current 13F holdings are valued at $1.86 billion (10.1%), backed by multi-billion-dollar procurement commitments from Nvidia over several years. The stock has surged 86.74% since the beginning of the year.

Nokia (NOK) holds $1.34 billion (7.3%), stemming from a $1 billion investment announced by Huang Huang at GTC 2025 (about 166 million shares at $6.01 each, representing 2.9% ownership). Nokia is the second-largest telecom equipment provider globally, offering mobile, fixed, and cloud network infrastructure and related software services. The two companies are collaborating on developing a 6G AI-RAN platform. Its stock has risen 149.62% this year.

Two "Invisible" Private Strategic Holdings

The 13F only reports publicly traded holdings, but Nvidia also made two private investments of $2 billion each in March, which are not yet reflected in the filings.

Lumentum (LITE) completed a $2 billion Series A convertible preferred stock purchase on March 2 (at $695.31 per share), with multi-year procurement commitments and capacity priority rights. Lumentum manufactures optical and photonic products, mainly for data centers, AI networks, and industrial lasers, and is expanding a new wafer fab in the U.S. Its stock has soared over 1,100% in the past 12 months, with a 134.39% increase since the start of the year.

Marvell (MRVL) announced a $2 billion investment on March 31, deepening cooperation through NVLink Fusion architecture. Marvell supplies semiconductor solutions for data centers, networking, storage, and AI infrastructure, offering customized XPU and silicon photonics technologies. Its stock has increased 145.47% this year.

In total, Nvidia’s traceable holdings exceed $22 billion. Including other investments such as Synopsys ($2 billion), Nebius ($2 billion), and Corning (up to $3.2 billion), Huang Huang’s total equity bets surpass $40 billion.

Jensen Huang's "Public Endorsement" Record

Buying is just the first step; Huang Huang is also adept at publicly endorsing his holdings, much like Trump.

On June 1 at COMPUTEX 2026 Taipei, Huang Huang invited Marvell CEO Matt Murphy on stage and declared that Marvell is "the next trillion-dollar company," causing MRVL to jump 17% after hours.

At GTC 2025, when announcing the Nokia investment, Huang Huang said, "Telecom networks are a $3 trillion industry, shifting from traditional architectures to AI-native systems." Nokia's stock surged 21% that day, its largest single-day gain since 2013.

Regarding CoreWeave, Huang Huang has directly named it multiple times in presentations, stating, "One of the notable ones is CoreWeave, they are doing very well," and has listed it as an early customer of the next-generation Vera CPU.

Buying, endorsing, rising, and adding more. Huang Huang’s investment portfolio functions like a self-reinforcing flywheel. However, when Nvidia’s own shipments directly influence these companies’ revenues, the dual roles of "investor" and "largest customer" create potential conflicts of interest that will eventually be reflected in pricing.

This is not investment advice.

Frequently Asked Questions

What companies does Nvidia currently hold stocks in?

According to the latest 13F filing, Nvidia publicly holds stocks in Intel, CoreWeave, Synopsys, Coherent, Nokia, Nebius, and Generate Biomedicines, totaling 7 holdings, plus private strategic investments in Lumentum and Marvell.

Why does Huang Huang call Marvell a "trillion-dollar company"?

Huang Huang pointed out at COMPUTEX 2026 that Marvell plays a key role in AI data center interconnect technology, with NVLink Fusion architecture, giving it the potential to grow into a chip company valued at a trillion dollars.