Nvidia agreed to invest $2 billion each in Lumentum and Coherent under multi-year deals that include purchase commitments and capacity access rights for advanced lasers and optical networking components. These funds will support R&D and expand U.S. manufacturing operations, aiming to secure high-bandwidth, energy-efficient photonics for AI data centers.

Alongside photonics, Nvidia announced collaborations with T-Mobile, SoftBank and Cisco to develop AI-native, software-based 6G radio access networks. The open and secure designs aim to enable network upgrades through software, embedding intelligence in telecom infrastructure for faster, adaptive wireless systems.

CEO Jensen Huang confirmed Nvidia has completed its $30 billion investment in OpenAI and described the previously discussed $100 billion deal as unlikely, signaling this may be the final major external AI funding. He also noted the $10 billion stake in Anthropic will likely be the last, as those startups prepare for public listings.

Huang emphasized that product demand moved from “very high” to even higher and affirmed Nvidia’s secure supply chain can support rapid scaling. Meanwhile, investor Steve Eisman highlighted Nvidia’s 73% year-over-year revenue growth and 82% EPS gain, questioning its 25x forward P/E versus the S&P’s 21.6x and flagging potential downstream risks.