Nvidia Discloses $63.4 Billion in US Equities as Zotac Parent Warns GPU Prices Will Keep Rising

Nvidia disclosed on August 15 that it held $63.44 billion in US-listed equities as of its most recent 13F filing, with Intel and SpaceX together representing 80.3 percent of that portfolio, according to regulatory filings reported by TS2 Tech. The disclosure comes as the chipmaker's broader investment footprint — from SB Energy to OpenAI data centers — continues to reshape the AI supply chain.

The 13F Breakdown

The Intel stake, built up over the past 18 months as Nvidia sought to anchor a domestic foundry ecosystem around Intel's 18A and 14A nodes, makes up the single largest position. The SpaceX holding, accumulated in stages through private secondary transactions, sits alongside smaller positions in CoreWeave, Nebius, and several AI cloud providers. The $63.44 billion figure is roughly 9 percent of Nvidia's own market capitalization and underscores how the chipmaker has become a financial counterparty to many of its largest customers.

Zotac Parent: GPU Shortage Worsening

On the consumer side, the picture is grimmer. PC Partner, the Hong Kong-listed parent of Zotac, Inno3D and Manli, told investors on August 16 that the graphics card shortage will worsen in the second half of 2026 because persistently rising graphics memory prices are inflating the cost of complete cards. The warning, contained in the company's semi-annual report, comes amid a 35 percent rally in memory shares that has put Micron, SK Hynix and Samsung at multi-year highs — and pushed add-in board partners to hike prices on mid-range RTX 5060 and 5070 models by 10 to 15 percent since July.

AI Demand Crowds Out Consumer Supply

The supply squeeze is a direct consequence of HBM3e and HBM4 allocations being prioritized for AI accelerators. "Every gigabyte of HBM that goes to an H200 or B300 is a gigabyte that doesn't go into a GeForce card," one industry analyst told TS2. With Nvidia's next-gen Vera Rubin platform set to enter mass production later this year, the displacement effect is expected to persist into 2027, meaning Christmas-time GPU prices for PC gamers are likely to be the highest in five years.