@thewallstreetskinny: This might be the hardest video I’ve made to date, despite the fact that I didn’t have to draw anything more complicated than a few boxes. 

In order to keep this under 3 minutes, I had to oversimplify A TON. I can’t caveat everything. But the bottom line is, if you want to put the key man risk of Jensen Huang — and the key company risk of NVIDIA — in context, you need to understand just how deeply they are invested across EVERYONE in the AI ecosystem. And while you’ll notice that there’s no real direct investment in the hyperscalers shown here, don’t be fooled. The frontier labs in whom NVIDIA has a massive investment are the ones renting compute and cloud space from the MSFTs, AMZNs, and GOOGs, of the world…not to mention the fact that investments like Marvell indirectly constitute an investment in their competitors’ custom chips. And despite their massive investment in OpenAI and other closed weight frontier model companies, they are deeply invested in the open weight models as well. Case in point? NOT PICTURED: their outright purchase of HuggingFace, which will show up in Q3. They bought the whole company at the nexus of the open weight world.

These guys aren’t out there picking winners like the rest of us dummies. They’re invested in anything and everything that touches AI.

thewallstreetskinny

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Wednesday 11 November 2026 22:37:11 GMT