Jensen Huang is running the most insane "sell shovels" play in US equities right now.
$NVDA just filed their 13F showing a $63.4B portfolio. The two wildest positions:
• ~$30B in $INTC (yes, their competitor)
• ~$21B in $SPCX (SpaceX), now their 6th largest shareholder
Here's the loop that prints money:
Early 2024: NVDA invests $10B cash into xAI (Musk's AI lab)
February: Musk merges xAI into SpaceX
Result: NVDA's AI equity auto-converts to SpaceX Class A shares
Six months later: That stake is now worth $21B on paper
The kicker? Musk just confirmed on the earnings call that SpaceX's next-gen AI data centers will run exclusively on NVDA hardware, with massive allocations of the new Vera Rubin GPUs coming in 2025.
The $INTC play is even crazier:
Last year NVDA dropped $5B into Intel when they were borderline distressed. Joint R&D on PC and datacenter chips. Intel's turnaround in foundry + consumer = stock rips 6x. What started as a "help the rival secure capacity" move turned into a 500% return.
This isn't selling chips anymore. This is:
Invest in customer/competitor ➡️ They buy your hardware with your capital ➡️ They IPO/merge ➡️ Your equity moons ➡️ Repeat
NVDA has welded the entire US defense, aerospace, and even competitor supply chains into their software/hardware stack.
Gamers crying about GPU prices? That business is a rounding error now.
$NVDA just filed their 13F showing a $63.4B portfolio. The two wildest positions:
• ~$30B in $INTC (yes, their competitor)
• ~$21B in $SPCX (SpaceX), now their 6th largest shareholder
Here's the loop that prints money:
Early 2024: NVDA invests $10B cash into xAI (Musk's AI lab)
February: Musk merges xAI into SpaceX
Result: NVDA's AI equity auto-converts to SpaceX Class A shares
Six months later: That stake is now worth $21B on paper
The kicker? Musk just confirmed on the earnings call that SpaceX's next-gen AI data centers will run exclusively on NVDA hardware, with massive allocations of the new Vera Rubin GPUs coming in 2025.
The $INTC play is even crazier:
Last year NVDA dropped $5B into Intel when they were borderline distressed. Joint R&D on PC and datacenter chips. Intel's turnaround in foundry + consumer = stock rips 6x. What started as a "help the rival secure capacity" move turned into a 500% return.
This isn't selling chips anymore. This is:
Invest in customer/competitor ➡️ They buy your hardware with your capital ➡️ They IPO/merge ➡️ Your equity moons ➡️ Repeat
NVDA has welded the entire US defense, aerospace, and even competitor supply chains into their software/hardware stack.
Gamers crying about GPU prices? That business is a rounding error now.