I just saw a segment where Jensen Huang was talking on a podcast, and it’s quite interesting. The CEO of Nvidia said their investment strategy is to cast a wide net rather than bet on a few winners. It sounds simple, but the logic behind it is worth pondering.

Jensen Huang mentioned that Nvidia’s own history is the best lesson. Back in the 3D graphics field, there were over 60 companies competing. If you had to predict who would survive, Nvidia would probably be among the least favored. But now, Nvidia has become the company with the highest market value worldwide. Because of this experience, Huang’s current approach is: instead of trying to pick winners, it’s better to have a comprehensive presence in AI ecosystems, biotechnology, robotics, and autonomous driving.

In the area of large language models, Huang and Nvidia have indeed taken significant actions. At the end of last year, they committed to investing up to $10 billion in Anthropic, and earlier this year, they poured $30 billion into OpenAI. Both investments are huge, but Huang recently said that since these two companies are about to go public, this might be Nvidia’s final investment in them.

Honestly, this judgment is quite interesting. Both top AI companies are about to list, and Nvidia, as an early investor, finds this timing very delicate. From an investment logic perspective, Huang’s broad deployment approach is essentially betting that multiple tracks in the AI era will explode. Instead of precisely predicting which company will ultimately win, it’s better to cover all possibilities.