Winner-Agnostic Portfolio: Why NVIDIA Wins Every AI Scenario

By backing competitors, NVIDIA maintains optionality. They don’t need any single company to win. They need AI to win.

Every Scenario Leads to NVIDIA

• OpenAI wins → NVIDIA wins (investor + supplier)
• Anthropic wins → NVIDIA wins (investor + supplier)
• xAI wins → NVIDIA wins (investor + supplier)
• Open-source wins → NVIDIA wins (Mistral, Reflection)
• New entrant wins → NVIDIA wins (Thinking Machines)

The Only Losing Scenario

A world without AI. That’s not happening.

Portfolio Construction

The diversification ensures:

• Winner-agnostic exposure to foundation models
• Geographic diversification (US, UK, France, Japan, Australia)
• Vertical diversification (enterprise, consumer, healthcare, media)
• Stage diversification (seed through growth)

Read the full analysis on The Business Engineer.