I Inherited Trillions, Now What?-Chapter 61: Nvidia II

"Excuse me, is this some kind of joke? You want to what?" Jensen, the CEO of Nvidia, blinked in disbelief, feeling like he’d just heard the worst joke in the world.

Everlyn, not one to be pressured, stood her ground. "Blackwell Investments is proposing the issuance of new shares," she repeated firmly, locking eyes with him.

Henry, who had been quiet until now, could no longer hold back. "But why? This doesn’t make any sense. It feels like a petty revenge move against Jensen because of his refusal to let Blackwell onto the board. What you’re proposing would dilute everyone’s shares, which doesn’t benefit anyone here, especially you. I’ve got 0.5% now, and if new shares get issued, my stake will be decimated. This isn’t just bad for you—it’s bad for all of us," Henry argued, his frustration clear.

Victor Carter, the representative from Geode Capital Management, scoffed, adding fuel to the fire. "It’s not just petty, it is petty. This is exactly how Blackwell operates—vindictive, ruthless. But issuing more shares? On what grounds? What’s the real reason behind this?"

Everlyn leaned forward, calm and confident. "Let me assure you all, Blackwell Investments is solely focused on the future and growth of Nvidia. There are no ulterior motives here. As for the shares, I’ll let Mr. Paul Brown, our new board member and shareholder representative, explain." She gestured toward Paul, who stood, offering a warm smile.

"Thank you," Paul began, addressing the room. "It’s truly an honor to be approved as a new board member of this incredible company, and I look forward to working with you all—especially with you, Mr. Jensen." He paused for a moment, eyeing Jensen’s tight expression. "The way you’ve led Nvidia to its current success is nothing short of monumental."

If looks could kill Jensen’s glare would have made Paul visiting his maker already, but Paul simply flashed a confident smile and continued undeterred by the tension in the room. "That being said," he began, his voice steady but resolute, "the reason we’re bringing up this proposal now is because it is my first act as a board member, and I’ve identified 11 companies that are absolutely essential for Nvidia’s continued success. These companies are not just acquisitions—they are the future of AI."

Paul leaned forward, his tone sharpening. "Companies like OctoAI, Brev.Dec Inc, Shoreline Software Inc, Dec.AI Ltd, and RunAI Labs Ltd are at the cutting edge of AI technology. These are the kind of companies that will shape the landscape of AI in the next decade. Acquiring them will not only expand our portfolio but solidify Nvidia’s position as the undisputed leader in the industry. We aren’t just talking about small players here; we’re talking about the companies that will define the next wave of innovation. Without them, we risk falling behind our competitors, who are already circling these companies like vultures."

He paused, letting the weight of his words sink in. "These companies hold the key to Nvidia’s future dominance. They have the technology, the talent, and the potential to accelerate our growth in ways we can’t even imagine yet. This isn’t just an opportunity—it’s a necessity. If we don’t act now, we’ll not only miss out on the next big leap in AI, but we’ll also allow others to surpass us, leaving Nvidia in the dust."

Jensen’s voice was cold. "We don’t need to issue new shares for that. Most of those companies are already on our radar. We’re already in talks to acquire some of them."

Paul didn’t flinch. "And where will the funds come from to acquire these companies, Mr. Huang?"

Jensen leaned forward, raising his voice. "Nvidia made 25 billion in profits last year. We’ll use that to acquire these companies."

Paul smiled slightly. "And how much of that profit is tied up in debt? Nvidia is currently 9 billion dollars in debt to bondholders. If you don’t pay off that debt, the interest rates will kick in, and that’s a massive financial burden. How do you plan to balance that with the acquisitions?"

Jensen scoffed. "There’s still plenty of money left to facilitate the acquisitions. Don’t worry about that."

Paul’s expression remained calm, but his words were sharp. "Last year, 15 billion of your profits were reinvested into research and development—R&D is the backbone of Nvidia’s innovation. Are you suggesting that we halt our innovation to buy these companies outright? That would be a disastrous move. If we stop pushing forward on R&D, we’ll lose our competitive edge in the AI race. If we don’t act now, we’ll get left behind."

Jensen’s tone grew more defensive. "We don’t have to acquire all of them at once. We can space out the purchases over the next three years."

A minor shareholder, who had been silently observing the exchange, finally spoke up. "Why does it have to be now? Can’t we wait?"

Paul turned to him, his voice steady but insistent. "Because we aren’t the only ones who’ve recognized the value of these companies. We have intelligence that others—big players like Apple, Tesla, Meta, and even Chinese and Japanese companies—are already in the running to acquire them. If we don’t move quickly, we’ll be outbid. It’s not just about acquiring companies; it’s about staying ahead in the AI race. Time is running out."

The room fell silent for a moment as Paul’s words hung in the air. Jensen’s frustration was palpable, but the reality of the situation was beginning to sink in. Paul had made his case: move quickly, or Nvidia would risk falling behind, not just financially, but in the fast-moving world of AI.

Victor who had been listening clapped his hands and said " You really have done your homework haven’t you well i have a question how much shares are you proposing we approve of issuing

paul paused for a while with the entire room silent and said "10.25 billion new shares would need to be issued "

Jensen stood abruptly, his chair screeching against the floor. "Are you insane? That’s almost half the amount of shares already in the market! Do you want to ruin us? Are you people completely out of your minds?" he bellowed, his voice slicing through the tense atmosphere of the boardroom. "You said you needed just $15 billion. What’s the point of issuing shares worth that astronomical amount?"

The room erupted into chaos. Agitated voices overlapped as panic spread like wildfire. The sheer magnitude of the proposed amount sent shockwaves through the gathered executives. Victor, visibly shaken but attempting to maintain composure, stood to address the room.

"You people are insane! You mentioned needing $15 billion," he said, his tone dripping with incredulity. "Yet here you are, talking about issuing stocks worth, by my calculations, upwards of $500 billion! Am I wrong?"

Paul, seated at the far end of the table, adjusted his glasses and replied coolly, "$504.5 billion dollars, to be precise."

Victor scoffed. "Oh, excuse me, $504 billion. Are you out of your minds? What you’re proposing is financial suicide! How do you even plan to justify this to the government? This could easily be labeled as malpractice!"

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Paul held up his hand, his expression unflinching. "We’ve considered that. That’s precisely why we’ve selected this amount. Any higher, and it would raise red flags. Even with this, we’ll need to justify it by presenting it as a strategic move also a necessary dilution of existing shareholders to maintain our lead as the foremost AI innovator in the world. The government has already shown a willingness to foster AI growth through incentives and reduced regulations."

He leaned forward, his tone more persuasive now. "By scaling up R&D efforts with $250 billion allocated over the next five years, we’ll achieve groundbreaking advancements. Additionally, the instability in NVIDIA’s shares, partly due to unforeseen circumstances, gives us the perfect opportunity to stabilize and grow the company’s market cap which should allow us to maneuver with stabilization of the shares as another reason to justify it."

Jensen, who had been seething, erupted with a bitter laugh, catching everyone’s attention. All eyes turned to him as he leaned forward, his knuckles pressed against the table.

"Unforeseen circumstances?" he repeated, his laughter dripping with venom. He straightened and jabbed a finger in Paul’s direction. "You call your reckless games of cat and mouse with my company ’unforeseen circumstances’?" His voice rose, fury evident in every word. "You dare come into my boardroom and suggest gutting my company in half as a solution? My company!"

The emphasis on "my company" reverberated in the stunned silence that followed. Jensen’s face was a mask of controlled rage, his dark eyes scanning the room, daring anyone to contradict him.

Paul shifted uncomfortably but managed to keep his voice steady. "Mr. Jensen, this strategy benefits everyone in the long run. The dilution of shares would be a minor inconvenience compared to the immense growth potential this funding would unlock it would benefit ’our company’." Paul said adding more to the anger of Jensen who was about to kill someone.

Jensen’s lips curled into a mirthless smile. "Minor inconvenience?" he echoed, his tone icy. "Spare me the corporate Bullshit, Paul. If this is the best argument you can muster, then you’d better revise your proposal. Bring me something that makes sense and doesn’t involve dismantling everything i have built."

The tension in the room was palpable as Jensen’s words hung in the air. For a moment, no one spoke. Then Jensen, still radiating controlled fury, returned to his seat. The message was clear: this battle was far from over, and Jensen would not back down without a fight.

Anna Morales, who had been silent up until now, was deep in thought. She had been ordered from higher up to side with the Blackwells earlier, a directive that shocked her. Having been with BlackRock for years, she was intimately familiar with the company’s unofficial policy to suppress the Blackwells. Yet, when she argued against the decision, she was curtly shut down. "It came from way up," they had said, leaving her no choice but to comply.

Anna frowned as the rest of the room devolved into heated arguments which consisted of them mostly shouting at the Blackwells representatives. But She couldn’t shake the weight of her regret. BlackRock had spent $24 billion in its efforts to prevent the Blackwells from owning more shares than them—money they didn’t have. In recent years the company’s focus was on a costly global policy change which drained them of billions in mere months, leaving little room for error. Allowing the Blackwells to push through their proposal felt like a betrayal of everything she stood for. It would greatly reduce their presence in the ai market, and she could very much lose her job if it went through.

Anna’s unease grew. The Blackwells wouldn’t come forward with such flimsy claims unless they had a more sinister agenda. She had to stop them.

Anna finally spoke, her voice cutting through the noise. "Have you thought about the financial impact this would cause?" she asked, her tone calm but firm. "Issuing more shares would signal to the market that NVIDIA needs external capital to sustain operations. This could cause the stock price to plummet, devaluing the company and collapsing your goal of stabilization. Instead of solving the problem, you’ll exacerbate it and risk destroying everything."

Her words momentarily silenced the room, forcing everyone to confront the stark reality of the proposal. But even as she argued, Anna couldn’t shake the feeling that the Blackwell’s were up to something more insidious. Their claims were flimsy, almost laughable, yet they persisted. She knew she had to stop them. And she knew—with a growing sense of dread—that she might already be too late.

And what happened next confirmed that feeling of hers

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