Nvidia has secured over $120 billion across three strategic partnerships to support artificial intelligence infrastructure, marking a significant milestone in the company’s growth.
The most significant arrangement is a commitment of up to $100 billion with OpenAI to deploy a minimum of 10 gigawatts of Nvidia systems for the AI company’s future infrastructure. Nvidia plans to invest incrementally as each gigawatt is brought online, with the first phase using its Vera Rubin platform and targeted for the second half of 2026.
In addition to its partnership with OpenAI, Nvidia invested $2 billion in Elon Musk’s xAI as part of a $20 billion funding round for the Colossus 2 data center in Memphis. This deal was structured through a special-purpose vehicle, combining $7.5 billion in equity with $12.5 billion in debt secured by Nvidia’s graphics processing units.
Nvidia also acquired a $5 billion stake in Intel at $23.28 per share, equating to approximately 4% ownership. The partnership aims to co-develop multiple generations of AI data center and PC chips to compete with AMD.
These announcements follow Nvidia’s reported Q2 FY2026 revenue of $46.7 billion, a 56% year-over-year increase. The data center segment generated $41.1 billion, or 88% of total revenue, with a gross margin of 72.7%. The company’s market capitalization has reached approximately $4.4 trillion, making it the world’s most valuable publicly traded company.
Over the past six months, Nvidia’s stock has risen 86.9%, trading between $180 and $182 after a record high of $195 in October. Wall Street analysts maintain a buy rating of over 90% for the stock, with average price targets in the $210-$220 range.
However, noted concerns include the stock’s 50x forward price-to-earnings ratio and potential impacts from U.S.–China trade restrictions.
