Nvidia’s Stock Nearly Doubled Its Bet on CoreWeave. Here’s Why

TLDR

• Nvidia disclosed a 47.2 million share stake in CoreWeave (CRWV), increasing its position by 94.5% from Q4 2025 to Q1 2026.
• Nvidia also reported holding 7.8 million shares in Coherent (COHR), a supplier of chip, laser, and optical materials.
• The holdings are as of March 31, 2026, according to an SEC filing.
• Nvidia first invested in CoreWeave in 2021 when it was a small GPU-focused cloud startup.
• NVDA stock holds a Strong Buy consensus on Wall Street with an average price target of $280.31, suggesting roughly 24% upside.

(SeaPRwire) –   Nvidia’s latest SEC filing has drawn attention to two AI-related companies. The chipmaker revealed increased positions in both CoreWeave (CRWV) and Coherent (COHR) as of March 31, 2026.

Nvidia now owns 47.2 million Class A shares in CoreWeave. This represents a 94.5% increase from the 24.3 million shares it held at the end of Q4 2025. The move nearly doubles its investment in one of the fastest-growing AI cloud providers currently operating.

CoreWeave, Inc. Class A Common Stock, CRWV

CoreWeave was built almost entirely on Nvidia hardware from the start. Nvidia first backed the company in 2021, when it was a small GPU-focused cloud startup, making this latest increase a natural extension of that early relationship.

CoreWeave has since evolved into a major AI cloud provider with ambitious expansion plans through 2026. The platform supports large-scale AI workloads for enterprise clients and has become a key outlet for Nvidia GPU capacity.

Nvidia Expands Position in Coherent

In addition to the CoreWeave stake, Nvidia also reported holding 7.8 million shares in Coherent (COHR). Coherent produces materials used in chips, lasers, and optical components—critical elements in the supply chain for high-power computing and advanced chip packaging.

Coherent doesn’t receive the same level of media coverage as some other AI companies, but it operates in a part of the supply chain that is difficult to replace. As AI systems become more power-intensive, demand for its materials has grown accordingly.

Together, these positions highlight Nvidia’s strategy of securing critical components of the AI ecosystem beyond its core chip business. Rather than simply selling hardware, Nvidia is building financial exposure across cloud infrastructure and the raw materials that support it.

Wall Street’s View on NVDA

Nvidia stock declined 4.42% on the day the filing became public. CoreWeave dropped 6.05% and Coherent fell 5.55% during the same trading session.

Despite these losses, Wall Street remains largely optimistic about NVDA. The stock maintains a Strong Buy consensus rating based on 40 Buy ratings, one Hold, and one Sell over the past three months.

The average price target stands at $280.31, representing a potential 24.4% gain from current levels.

The SEC filing reflects holdings as of March 31, 2026, compared with positions held at the end of December 2025. The nearly doubled CoreWeave stake stands out as the most significant change in the quarter.

CoreWeave itself went public earlier this year and quickly emerged as one of the most closely watched AI infrastructure plays in the market. Nvidia’s increased stake adds another dimension to that narrative.