How NVIDIA Turned a $5 Billion Bet Into $25 Billion

NVIDIA invested $5 billion in Intel in 2021. That stake is now worth $25 billion—a five-fold gain. The surge reflects a broader strategy: NVIDIA profits not just from selling chips, but also from owning stakes in companies that need them and from licensing technology. This multiplier effect now guides where NVIDIA deploys its $40 billion annual investment budget across data centers and chip suppliers.