Jensen Huang
Calls AI a five-layer industrial buildout, from energy to apps, and backs that view with $99B of equity stakes.
We track: GTC and Computex keynotes, earnings calls, podcasts, NVIDIA press releases
What they’re saying about the future
Exact quotes, newest first, each dated and linked to the source. Last reviewed 22 Oct 2026.
“AI is at another inflection point — agentic AI, driving incredible compute demand and accelerating infrastructure buildout.”
“AI has reinvented computing and is driving the largest computing infrastructure buildout in history.”
“AI is entering its next frontier and driving the largest infrastructure buildout in human history.”
“AI is transforming every industry, and its most profound impact will be in life sciences.”
“Rubin arrives at exactly the right moment, as AI computing demand for both training and inference is going through the roof.”
Companies Jensen has talked up
Exact words, newest and biggest first. Words outside quote marks are our description.
| Company | What he said | When | Where | Source |
|---|---|---|---|---|
| Marvell MRVL | “next trillion-dollar company” … “That’s the reason why Matt’s doing so well. That’s the reason why Marvell is so essential.” | 1 Jun 2026 | Computex, Taipei | CNBC, 2 Jun 2026; Reuters, 2 Jun 2026 |
| Marvell MRVL | “The inference inflection has arrived. Token generation demand is surging, and the world is racing to build AI factories.” | 31 Mar 2026 | NVLink Fusion announcement (NVIDIA committed $2B) | NVIDIA press release, 31 Mar 2026; CNBC, 2 Jun 2026 |
| FedEx FDX | “I am super excited for FedEx; they are obviously going to be an AI company, a technology company.” | 15 Oct 2026 | BG2 Pod | BG2 Pod with Jensen Huang, 15 Oct 2026 (video); Published transcript of the BG2 episode (Druckfin) |
| AT&T and Verizon T · VZ | “The entire telecommunications industry will be reinvented again into a technology industry… I am delighted to work with AT&T and Verizon and partners around the world as they reinvent themselves.” | 15 Oct 2026 | BG2 Pod | BG2 Pod with Jensen Huang, 15 Oct 2026 (video); Published transcript of the BG2 episode (Druckfin) |
| T-Mobile and Nokia TMUS · NOK | “Now CUDA makes phone calls” (on the first commercial AI-RAN call on T-Mobile’s network) | 21 Oct 2026 | GTC Berlin keynote | NVIDIA Blog, GTC Berlin keynote live updates, 21 Oct 2026; DCD, 17 Mar 2026 |
| Nokia NOK | “Telecommunications is a critical national infrastructure — the digital nervous system of our economy and security… Built on NVIDIA CUDA and AI, AI-RAN will revolutionize telecommunications.” | 28 Oct 2025 | NVIDIA–Nokia partnership ($1B equity investment) | NVIDIA press release, 28 Oct 2025; Nokia stock exchange release, 28 Oct 2025 |
| ServiceNow NOW · Held | “I came … because I want my ServiceNow.” | 5 May 2026 | ServiceNow Knowledge 2026, Las Vegas | Fortune, 6 May 2026 |
| Oracle, Nebius, CoreWeave ORCL · NBIS · CRWV | Named all three while arguing that “compute is revenue.” (Only the three-word phrase is his; the rest is CNBC’s summary.) | 1 Jun 2026 | Computex keynote | CNBC, 1 Jun 2026 |
| CoreWeave CRWV | “AI is entering its next frontier and driving the largest infrastructure buildout in human history… Together, we’re racing to meet extraordinary demand for NVIDIA AI factories.” | 26 Jan 2026 | Expanded partnership ($2B equity) | NVIDIA press release, 26 Jan 2026; CoreWeave 8-K, 23 Jan 2026 |
| Nebius NBIS | “AI is at another inflection point — agentic AI, driving incredible compute demand and accelerating infrastructure buildout.” | Mar 2026 | Full-stack AI cloud partnership | NVIDIA press release, Mar 2026 |
| Eli Lilly LLY | “AI is transforming every industry, and its most profound impact will be in life sciences.” | 12 Jan 2026 | NVIDIA–Lilly co-innovation lab | NVIDIA press release, 12 Jan 2026 |
| Synopsys SNPS | “CUDA GPU-accelerated computing is revolutionizing design — enabling simulation at unprecedented speed and scale, from atoms to transistors, from chips to complete systems.” | 1 Dec 2025 | Strategic partnership ($2B equity) | NVIDIA press release, 1 Dec 2025; Synopsys 8-K, 1 Dec 2025 |
| Coherent COHR | “With Coherent, NVIDIA is pioneering next-generation silicon photonics to enable AI infrastructure at unprecedented scale, speed and energy efficiency.” | 2 Mar 2026 | Optics partnership ($2B equity) | NVIDIA press release, 2 Mar 2026; Coherent 8-K, 2 Mar 2026 |
| Lumentum LITE | “AI has reinvented computing and is driving the largest computing infrastructure buildout in history.” | 2 Mar 2026 | Optics partnership ($2B announced) | Lumentum / NVIDIA press release, 2 Mar 2026; Reuters, 2 Mar 2026 |
| Tesla and Optimus TSLA · Held | “The work that he’s doing in Grok, his self-driving car, his Optimus—these are all, every single one of them, world class… I think this is likely to be the next multi-trillion dollar industry.” | 28 May 2025 | Bloomberg Technology interview | Bloomberg Technology interview, 28 May 2025 (transcribed by WhatsUpTesla) |
| Tesla TSLA · Held | “Tesla is far ahead in self-driving cars.” | May 2024 | Yahoo Finance interview (older, kept for context) | Yahoo Finance interview, May 2024 |
| xAI (now part of SpaceX) SPCX · Held | “As far as I know, there’s only one person in the world who could do that… Elon is singular in his understanding of engineering, construction, large systems, and marshalling resources.” (on Colossus going from plan to first training run in 19 days) | Oct 2024 | BG2 Pod | Business Insider, Oct 2024; PC Gamer, Oct 2024 |
We looked for exact Huang quotes praising Palantir, Microsoft and Oracle by name in 2025–2026 and did not find wording we could source to a primary record, so they are not in the table. Oracle appears only in the Computex row, where CNBC reports he named it.
Fact check: did NVIDIA invest in Ericsson?
Short answer: NVIDIA owns part of Nokia, not Ericsson. On 28 October 2025 NVIDIA agreed to invest $1 billion in Nokia at $6.01 a share, about 166.4 million shares or 2.9% of the company. NVIDIA’s 13F for 30 June 2026 lists Nokia. It lists no Ericsson position, and NVIDIA has announced no Ericsson stake.
Why Nokia. The deal is about AI-RAN: running the radio network on NVIDIA computers so the same base-station hardware can carry phone traffic and AI work. NVIDIA introduced a 6G-ready “Arc Aerial RAN Computer.” Nokia agreed to build AI-RAN products on it, and T-Mobile US is testing the technology. Huang frames telcos as future distributed AI networks: about 100,000 sites and about 100 GW of base stations and data centers that sit close to users. That is our edge-compute thesis.
What we didn’t find. We found no NVIDIA filing or press release describing an equity investment in Ericsson.
Sources: NVIDIA press release, 28 Oct 2025; Nokia stock exchange release, 28 Oct 2025; NVIDIA Form 13F, holdings at 30 Jun 2026; NVIDIA Blog, GTC Berlin keynote live updates, 21 Oct 2026; DCD, 17 Mar 2026. More in The Future: Edge compute.
Public and private companies NVIDIA owns
NVIDIA held $99 billion of equity investments at 26 July 2026 (NVIDIA Form 10-Q, quarter ended 26 Jul 2026). Listed holdings below come from its 13F for 30 June 2026; announced stakes come from company filings and press releases.
| Company | What | When | Terms disclosed | Value at 30 Jun 2026 | Sources |
|---|---|---|---|---|---|
| Intel (INTC) | Common stock + joint CPU/PC products | Sep 2025 | $5.0B, 214.8M shares at $23.28 | ≈$30.0B | Intel 8-K, Sep 2025; NVIDIA press release, 18 Sep 2025; NVIDIA Form 13F, holdings at 30 Jun 2026 |
| SpaceX (SPCX) | Class A stock; stake traces back to NVIDIA’s xAI investment | — | Cost basis not disclosed | ≈$21.0B (122.8M shares) | NVIDIA Form 13F, holdings at 30 Jun 2026; The Motley Fool, 13 Sep 2026 |
| CoreWeave (CRWV) | AI cloud; latest tranche Jan 2026 | Jan 2026 | $2.0B tranche, 22.9M shares at $87.20; earlier cost not fully disclosed | ≈$4.7B (47.2M shares, total) | CoreWeave 8-K, 23 Jan 2026; NVIDIA Form 13F, holdings at 30 Jun 2026 |
| Coherent (COHR) | Optics for AI data centers | Mar 2026 | $2.0B, 7.79M shares at $256.80 | ≈$3.1B | Coherent 8-K, 2 Mar 2026; NVIDIA Form 13F, holdings at 30 Jun 2026 |
| Nokia (NOK) | AI-RAN and data-center networking partnership | Oct 2025 | $1.0B, 166.4M shares at $6.01 (2.9% stake) | ≈$2.2B | Nokia stock exchange release, 28 Oct 2025; NVIDIA Form 13F, holdings at 30 Jun 2026 |
| Synopsys (SNPS) | Chip-design and simulation software partnership | Dec 2025 | $2.0B, 4.82M shares at $414.79 | ≈$2.15B | Synopsys 8-K, 1 Dec 2025; NVIDIA Form 13F, holdings at 30 Jun 2026 |
| Nebius (NBIS) | AI cloud | Mar 2026 | $2.0B announced | 13F lists 1.19M common shares (≈$0.33B) | NVIDIA press release, Mar 2026; NVIDIA Form 13F, holdings at 30 Jun 2026 |
| Lumentum (LITE) | Photonics for AI networking | Mar 2026 | $2.0B announced | Not in the 13F list | Reuters, 2 Mar 2026 |
| Generate Biomedicines | AI drug discovery | — | Not disclosed | ≈$14M | NVIDIA Form 13F, holdings at 30 Jun 2026 |
| OpenAI | Frontier lab; part of a $110B round | Feb 2026 | $30B | Private | OpenAI, “Scaling AI for everyone”, 27 Feb 2026 |
| Anthropic | Frontier lab; compute partnership | Nov 2025 | Up to $10B | Private | Anthropic, 18 Nov 2025 |
| Safe Superintelligence | Frontier lab; long-term partnership | Jul 2026 | $5B reported (NVIDIA didn’t state the amount) | Private | NVIDIA press release, 27 Jul 2026; Reuters, 27 Jul 2026 |
| Hugging Face | Open-model platform: an acquisition, not a stake | Agreed 2 Sep 2026 | ≈$11.9B plus up to ≈$1.0B retention (≈$12.93B); expected to close H1 2027 | Pending | NVIDIA Form 8-K, 2 Sep 2026; Jensen Huang, NVIDIA Blog, 3 Sep 2026 |
| Doctolib, Pigment, Genesis AI, Entalpic | French health, enterprise software, robotics and AI-for-chemistry startups | Oct 2026 | Minority stakes; amounts not disclosed | Private | Tech.eu, 14 Oct 2026 |
Values are taken from the 13F at 30 June 2026 (filed 14 Aug 2026). They are paper marks that change daily and are not realized gains. We show cost only where a filing or press release discloses it. Private stakes have no public mark. Some figures, such as SSI’s $5B, come from news reports rather than NVIDIA. The full analysis is in our NVDA deep dive.
Photo: Anderseidesvik, Wikimedia Commons, CC BY-SA 4.0 (cropped)
Quotes are reproduced from the linked public sources. Inclusion does not imply any affiliation with or endorsement by this person or their companies. Nothing here is investment advice.