Nvidia (NVDA) has announced planned investments in four French startups: Doctolib, Genesis AI, Pigment and Entalpic. On Tuesday, October 13, Doctolib told Reuters that Nvidia had agreed to acquire a minority stake to help it develop AI tools, while robotics developer Genesis AI confirmed Nvidia as a strategic investor. Neither disclosed the investment amount.
The same day, CEO Jensen Huang said Nvidia will announce $2 billion in new European investments next week.
Small Stakes, but Not Off Nvidia’s Books
With no terms disclosed, there’s no way to size these four deals. Buying a minority stake doesn’t add revenue, but it can still move earnings: Nvidia books unrealized gains, losses and impairments on private holdings in Other income, net.
The bigger point is the habit: Nvidia keeps putting cash into companies that will need its chips, and TIKR’s data shows how quickly that habit has grown.
Nvidia’s Investment Book Grew More Than 13x in a Year
Long-term investments, where Nvidia holds stakes like these, stood at $3.80 billion at the end of July 2025. A year later, they reached $51.16 billion, an increase of about $47 billion (that includes changes in the value of existing holdings, not just new cash).
Nvidia can afford it. Free cash flow over the last four reported quarters totaled about $127 billion.
At that pace, the $2 billion Europe package is less than a week of cash generation. The one-year jump in the investment book, though, equals about 37% of that year’s free cash flow. Small deals, big pattern.
Two Ways to Read Nvidia’s $51 Billion Bet
The bull read: Nvidia is spending a slice of its cash to seed demand where AI adoption lags, and Europe fits that description. If a few of these startups scale, they become long-term buyers of Nvidia hardware, and the stakes gain value along the way.
The bear read: a bigger investment book ties more of Nvidia’s demand to companies it helps fund. If startup valuations fall and funding pressures also curb those companies’ computing spending, Nvidia could face both investment losses and weaker demand for its chips.
Next week’s $2 billion won’t settle it, since it’s under 2% of a year’s free cash flow. The number that will is the investment book itself. If it keeps climbing at anything close to last year’s pace, the bear read stops being a footnote.
Want to track how fast Nvidia’s investment book is growing against its cash flow? Pull up the same charts on TIKR for free and watch the next quarter land. Learn more here.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
