Nvidia’s ‘Secret Portfolio’ Is Tanking. This Is the Only Stock Still Winning

Core Insights - Nvidia has developed a strategic investment portfolio valued at $4.3 billion, focusing on companies that enhance its AI ecosystem, including chip design and data infrastructure [1] - The portfolio experienced a significant decline of nearly $500 million in Q3, an 11% drop, and further decreased by 30% post-Q3, bringing its value down to approximately $2.7 billion [2] Portfolio Performance - CoreWeave, Nvidia's largest investment, represents over 91% of the portfolio and has seen its stock price drop 46% from Q2 levels, primarily due to debt concerns and market fatigue [3] - Other holdings such as Arm Holdings, Recursion Pharmaceuticals, and WeRide also faced declines of 12.5%, 5.7%, and 17% respectively, influenced by sector-wide pressures [4] Notable Performers - Despite the overall downturn, Applied Digital has surged 208%, increasing its value to over $239 million for Nvidia, with a revenue increase of 84% to $64.2 million [5] - Nebius Group has shown strong performance with a 355% year-over-year revenue increase to $146 million, although its stock has fallen 17% since the end of Q3 [6]