Nvidia continues to be a major investor in the AI ecosystem, committing more than $40 billion to equity investments in AI companies — and that’s just in these early months of 2026, according to CNBC.

Much of that total comes from a single bet, a $30 billion investment in OpenAI. But CNBC reports that the chipmaker has also announced seven multi-billion dollar investments in publicly traded companies, most recently deals to invest up to $3.2 billion in glassmaker Corning and up to $2.1 billion in data center operator IREN.

We’ve previously rounded up Nvidia’s investments in AI startups, including 67 venture deals in 2025. And according to FactSet data, it’s already participated in around two dozen investment rounds in private startups in 2026.

The fact that Nvidia has been investing in some of its own customers has led to the recurring criticism that these are circular deals moving money back-and-forth between the same companies.

Wedbush Securities analyst Matthew Bryson said Nvidia’s investments fall “squarely into the circular investment theme,” but suggested that if successful, they could help the company build a “competitive moat.”