13. Arm Holdings
Nvidia tried to buy chipmaker Arm Holdings in 2020, but regulators blocked the deal. The two have been close partners since then. Nvidia licenses ARM's architecture for products like the Grace Hopper H200 Superchip.
ARM is known for making efficient central processing units (CPUs) that consume less power than competitors like the x86 from Intel or AMD (AMD -1.94%). That's why ARM's designs are in 99% of smartphones, and its architecture is prized for running AI applications in data centers, which are especially power-hungry.
Nvidia's $147.3 million bet on ARM has already paid off. The stock soared on its fourth-quarter earnings report, and it wouldn't be surprising to see Nvidia build its stake in Arm over time.
However, as of 2025, Nvidia has cut its stake in Arm Holdings by over 44% with just over a million shares of the chipmaker remaining.
14. Recursion Pharmaceuticals, 2023
Nvidia announced a $50 million investment in Recursion Pharmaceuticals (RXRX -3.56%) in July 2023. Recursion is a biotech firm known for using AI models for drug discovery.
The announcement led Recursion's stock to jump 80% as investors interpreted the news as a clear stamp of approval for Recursion from the AI leader. The two companies will also partner to train Recursion's AI models on Nvidia's cloud platform, which can then be licensed on BioNeMo, the generative AI-based drug discovery engine Nvidia launched in 2023.
Nvidia has increasingly touted its potential in healthcare, especially in areas like drug discovery. So, it wouldn't be surprising to see the company make more moves like this one or strengthen its relationship with Recursion in the future.
As of 2025, there has been no new publicly available news, and information has not been released.
15. Nano-X Imaging, 2023
Nvidia also revealed a stake in Nano-X Imaging (NNOX -3.98%), which seeks to disrupt conventional X-rays with its digital imaging technology. However, Nvidia didn't buy shares in Nano-X directly. Instead, Nvidia acquired the stake because its venture fund bought shares of Zebra Medical in 2017, which Nano-X acquired in 2021 in an all-stock deal worth roughly $200 million.
However, Nvidia's decision to hold on to those shares acts as a kind of endorsement for Nano-X, which has struggled since its initial pop after it became publicly traded. Nano-X's ownership of Zebra Medical gives it exposure to AI since the company uses AI algorithms to find undetected signs of chronic diseases.
At just $380,000, Nvidia's stake in Nano-X is tiny. However, if its technology does pay off, there's a lot of upside for Nvidia.
However, as of 2025, Nvidia has exited its position in Nano-X Imaging.
16. Serve Robotics, 2024
Serve Robotics, which recently went public, is another company in which Nvidia has taken a small, arguably speculative stake. Serve Robotics makes autonomous food delivery robots that move along sidewalks.
It's signed up Uber (UBER -1.95%) Eats, Yum! Brands' (YUM +0.10%) Pizza Hut, and Shake Shack (SHAK -0.61%) as customers. However, Serve Robotics is still a development-stage company with less than $1 million annual run-rate revenue as of the third quarter of 2024.
However, by the end of 2024, Nvidia sold its stake in Serve Robotics and currently holds no position in the company.
17. Applied Digital, 2024
Nvidia invested $160 million in Applied Digital (APLD -2.88%), a company that designs and operates data centers and cloud services to support customers with HPC needs. Applied Digital seems like a natural partner for Nvidia, so it's no surprise to see Nvidia accumulating a stake in the company.
As of 2025, Nvidia held a $43.4 million position in the company.
What companies could Nvidia buy in the future?
Given its acquisition history and recent minority investments, there is a wide range of companies Nvidia could potentially acquire. The company clearly sees healthcare as a burgeoning field in AI, so it wouldn't be surprising to see it make more acquisitions in the health-tech field.
More acquisitions that would help the company strengthen its technology in accelerated computing also seem likely. Nvidia is launching PC chips for the first time, extending its leadership position in AI into PCs. Making an acquisition that would help that initiative also makes sense.
It's difficult to identify individual companies Nvidia could purchase, as the options range from start-ups to established publicly traded companies. But investors should expect Nvidia to continue strengthening and diversifying its positioning in AI through acquisitions.
The bottom line on companies Nvidia owns
Nvidia owns a wide array of subsidiaries dating back to the company's early history. Those have played a key role in making the company one of the most valuable in the world.
These days, Nvidia is squarely focused on artificial intelligence. Almost all its recent acquisitions have been key to burnishing its AI credentials, whether by improving AI technology or entering new markets. Given the company's market-leading position in AI hardware, we will likely see more acquisitions from Nvidia in the coming years.
