{
  "$type": "site.standard.document",
  "bskyPostRef": {
    "cid": "bafyreifoiwzt33jwnlzsogusqyjupyggm55aat2nsj5y7kzhomqnev2o2e",
    "uri": "at://did:plc:wz4a6zqjyyydgrncn6zajuyr/app.bsky.feed.post/3m5wqnvg45bz2"
  },
  "coverImage": {
    "$type": "blob",
    "ref": {
      "$link": "bafkreige5lqdlnzt2q4umizqww5d64dxxzjqyxjmzazoqi6skaxkuxvwa4"
    },
    "mimeType": "image/png",
    "size": 1787110
  },
  "description": "An ongoing list of the tangled web of Big Tech investments in Big AI...",
  "path": "/big-tech-ai-investments/",
  "publishedAt": "2025-11-18T22:04:52.000Z",
  "site": "https://spyglass.org",
  "tags": [
    "the news",
    "you can't have a tit without a tat",
    "tangled",
    "interwoven",
    "which owns 27% of OpenAI",
    "their main rival",
    "to be fair",
    "conflicted mess",
    "a list I made in July",
    "except maybe Apple",
    "Infinity Stones",
    "completing the ouroboros",
    "Apple",
    "I'm off to play Clue",
    "Pokemon",
    "Big Tech’s Big Hedge with Big AILarge investments means sizable stakes for the last wave of technology in the next wave of technology…SpyglassM.G. Siegler",
    "The Stargate Data Center Layer CakeJPMorgan -> Crusoe -> Blue Owl -> Oracle -> NVIDIA -> SoftBank -> OpenAI ->…SpyglassM.G. Siegler",
    "Big Tech’s Big Stakes in Big AIAs the valuations get bigger, the stakes go higher, quite literally…SpyglassM.G. Siegler"
  ],
  "textContent": "When I was a kid, I distinctly remember the phrase \"collect them all\" as a marketing slogan used to upsell toys and other collectables. As a completist, this always worked on me – honestly, still does. It also sure seems to work on Big Tech when it comes to AI.\n\nWith the news today that Microsoft and NVIDIA are now making investments in Anthropic – naturally alongside a pledge from Anthropic to spend at least $30B on Azure, because you can't have a tit without a tat – I'm honestly sort of at a loss for how to frame this. Everything is just so tangled and interwoven at this point. I mean, this is a company which owns 27% of OpenAI investing in their main rival. And, to be fair, it comes after OpenAI signed deals with all of Microsoft's main rivals in the cloud. So instead, I'll just assume from now on that all bets are off because all bets are on.\n\nStill, I feel the need to list out some of this conflicted mess just for my own sanity and so I can keep referencing and checking it as I write about tangential topics. Really, it's just an expansion of a list I made in July when noting just how hedged Big Tech was now thanks to their massive investments in these AI companies.\n\nThis is just the latest such deal, but obviously won't be the last.\n\n__For this list, I'm just going to keep it to the large tech companies investing in several other companies *also*__ __on this list and the larger AI companies also *taking* those investments. I'm also going to stick to investments directly off balance sheets — i.e. no GV investments, where I of course worked for many years, and had to always give the spiel that we weren't meant to be strategic to Google :)__\n\n__For \"Other deals\" I'll include companies where there's a relationship but a direct investment isn't involved (at least not known or not yet). I'll try to keep this updated...__\n\n**_Amazon_\nInvestor in: **Anthropic • Databricks • Hugging Face • OpenAI • Scale AI\n**Investment from:** N/A\n**Other deals:** Cerebras\n\n** _AMD_\nInvestor in: **Cohere • Hugging Face • Scale AI • Thinking Machine Lab • World Labs\n**Investment from:** OpenAI • Meta\n**Other deals:**\n\n**_Anthropic_\nInvestor in: **N/A\n**Investment from:** Amazon • Google • Microsoft • NVIDIA\n**Other deals:** Apple • Broadcom\n\n** _Apple_\nInvestor in: **N/A\n**Investment from:** N/A\n**Other deals:** Anthropic •**** Google • OpenAI\n\n** _Broadcom_\nInvestor in: **N/A\n**Investment from:** N/A\n**Other deals:** Anthropic •**** Google • Meta • OpenAI\n\n** _Cisco_\nInvestor in: **Anthropic • Cohere • CoreWeave • Mistral • Scale AI • Thinking Machine Lab • xAI\n**Investment from:** N/A\n**Other deals:** Microsoft\n\n** _Cohere_\nInvestor in:** N/A\n**Investment from:** AMD • Cisco • NVIDIA • Oracle • Salesforce\n**Other deals:** CoreWeave\n\n** _CoreWeave_\nInvestor in: **N/A\n**Investment from:** Microsoft • NVIDIA • OpenAI\n**Other deals:** IBM • Meta • Mistral • Cohere\n\n** _Databricks_\nInvestor in: **N/A\n**Investment from:** Amazon •**** Microsoft • NVIDIA • Salesforce\n**Other deals:** Google\n\n** _Google_\nInvestor in: **Anthropic • Hugging Face • Safe Superintelligence\n**Investment from:** N/A\n**Other deals:** Broadcom • Databricks • NVIDIA • OpenAI • Thinking Machine Lab\n\n** _Hugging Face_\nInvestor in: **N/A\n**Investment from:** Amazon • AMD • Google • IBM • Intel • NVIDIA • Salesforce\n**Other deals:**\n\n**_Intel_\nInvestor in: **Hugging Face\n**Investment from:** NVIDIA • SoftBank • US Government\n**Other deals:** Amazon • Google • Microsoft\n\n** _Meta_\nInvestor in: **AMD • Databricks •**** Safe Superintelligence •**** Scale AI\n**Investment from:** N/A\n**Other deals:** Black Forest Labs •**** Broadcom •**** Midjourney • NVIDIA\n\n** _Microsoft_\nInvestor in:** Anthropic • Databricks • Mistral • OpenAI\n**Investment from:** N/A\n**Other deals:** NVIDIA\n\n** _Mistral_\nInvestor in:** N/A\n**Investment from:** ASML • Cisco • IBM • Microsoft • NVIDIA • Salesforce • Samsung\n**Other deals:**\n\n**_NVIDIA_\nInvestor in: **Anthropic • Cohere • CoreWeave • Mistral • Nokia • OpenAI • Perplexity • Safe Superintelligence • Scale AI • Thinking Machine Lab • xAI\n**Investment from:** SoftBank (exited)\n**Other deals:** Literally everyone, except maybe Apple\n\n**_OpenAI_\nInvestor in: **AMD • Cerebras • CoreWeave\n**Investment from:** Amazon •**** Disney •**** Microsoft • NVIDIA • Oracle • SoftBank\n**Other deals:** Almost everyone, except Anthropic, Meta, and xAI\n\n** _Oracle_\nInvestor in: **Ampere • Cohere • OpenAI\n**Investment from:** N/A\n**Other deals:** NVIDIA • SoftBank\n\n** _Salesforce_\nInvestor in: **Anthropic • Cohere • Databricks • Hugging Face • Mistral • World Labs\n**Investment from:** N/A\n**Other deals:**\n\n**_Scale AI_\nInvestor in: **N/A\n**Investment from:** Amazon • AMD • Cisco • Meta • NVIDIA\n**Deals with:**\n\n**_SoftBank_\nInvestor in: **Ampere •**** Intel •**** NVIDIA (exited) •**** OpenAI\n**Investment from:** N/A\n**Deals with:** Oracle\n\n** _xAI_\nInvestor in: **N/A\n**Investment from:** AMD • Cisco • NVIDIA • SpaceX • Tesla\n**Deals with:** Black Forest Labs • Microsoft • Oracle\n\nSo there you go, while NVIDIA is obviously out there like Thanos collecting Infinity Stones, others are more subtle in their strategic bets. Special shout-out to Cisco, which kept unexpectedly coming up as I was putting together the list.\n\nIt also sure feels like with this latest news we're mere weeks away from Google and/or Amazon investing in OpenAI, completing the ouroboros. Apple? All totally cool, right? Since this isn't \"zero sum\" per Nadella...1\n\nAnyway, I'm off to play Clue. Or Pokemon.\n\nI can't believe they don't break into a rendition of \"Kumbaya\" to close...\n\n👇\n\n****Previously, on**** _****Spyglass****_****...****\n\nBig Tech’s Big Hedge with Big AILarge investments means sizable stakes for the last wave of technology in the next wave of technology…SpyglassM.G. SieglerThe Stargate Data Center Layer CakeJPMorgan -> Crusoe -> Blue Owl -> Oracle -> NVIDIA -> SoftBank -> OpenAI ->…SpyglassM.G. SieglerBig Tech’s Big Stakes in Big AIAs the valuations get bigger, the stakes go higher, quite literally…SpyglassM.G. Siegler\n\n* * *\n\n1 **Narrator:** as it turns out, it was not \"totally cool\" in the end, as many of these conflicted sides and companies would fight tooth and nail for market share. ↩",
  "title": "Collect Them All (AI Edition)",
  "updatedAt": "2026-04-24T10:15:06.343Z"
}