Nvidia ECONOMIC

Supply Chain & Sourcing Relationships

• No public evidence identified of NVIDIA procurement from Israeli agricultural exporters, produce aggregators, food-sector import structures, importer-of-record entities, seasonal sourcing, or Israeli-origin consumer goods supplied through distributors or white-label arrangements. ¹

• NVIDIA’s reviewed filings and corporate disclosures instead evidence an Israeli technology and networking footprint associated with the Mellanox acquisition, rather than consumer-goods sourcing. ^{1, 2}

• A 2024 Israeli Ministry of Defense/SIBAT exhibition directory states that defence-sector integrator CTI-Intl Solutions offers mission computers based on the NVIDIA Jetson family. ³

• The SIBAT directory establishes an integrator’s stated use of NVIDIA-branded components, but does not establish a direct NVIDIA contract with the Israeli military or identify a military end user. ³

• AFSC Investigate reports that Israeli Ministry of Defense purchases of NVIDIA products, including Jetson cards and DGX systems, were disclosed in a database of unclassified contracts awarded without public tender during 2023–2025. ⁴

• AFSC also states that the underlying contracts are not public and that end users, quantities, values, and use cases are unclear, so this remains an unresolved investigative lead rather than a publicly verifiable NVIDIA–IMOD contract record. ⁴

• No public primary procurement record was identified for an Israeli Ministry of Defense or IDF contract involving NVIDIA, Mellanox, Israel-1, or HIPER Global. ⁴

Product Origin, Labeling & Regulatory Compliance

• No public evidence identified of NVIDIA settlement-origin goods, country-of-origin labeling issues, regulatory enforcement, or a public policy specifically addressing sourcing or labeling from occupied territories. ¹

• No public evidence identified in the reviewed sources of NVIDIA operations, sales, resellers, facilities, or procurement in West Bank settlements, East Jerusalem settlements, or the Golan Heights. ^{1, 5}

• The supplied document-scoped pre-scan found no NVIDIA mention in the specified 2023 and 2025 OHCHR settlement-database materials, A/HRC/59/23, DBIO reports, PAX, KLP, Who Profits’ Financing Land Grab, and other named reports. ⁵

• This document-scoped result does not establish database-wide absence or exclude relationships not covered by the reviewed materials. ⁵

• No public evidence identified in checked sources of an OHCHR settlement-database listing, cited UN accountability finding, court proceeding, parliamentary proceeding, regulatory enforcement action, formal sanction, or court finding naming NVIDIA in connection with settlement activity. ^{5, 6}

Investment, Capital & Financial Exposure

• NVIDIA announced a definitive agreement on 11 March 2019 to acquire all outstanding Mellanox shares for $125 per share, describing the transaction as having an approximately $6.9 billion enterprise value and Mellanox as headquartered in Israel. ⁷

• NVIDIA completed the Mellanox acquisition on 27 April 2020, and its announcement described the transaction value as $7 billion. ²

• NVIDIA’s 2020 Form 10-Q records total purchase consideration for the Mellanox acquisition of $7.134 billion. ⁸

• NVIDIA’s FY2025 Form 10-K states that the acquisition expanded the company into networking, data-center-scale platforms, and the DPU product class. ¹

• NVIDIA’s FY2025 Form 10-K states that the company owns and leases facilities for data centers, R&D, and/or sales and administrative purposes in several countries, primarily including Israel. ¹

• NVIDIA’s FY2025 sustainability report identifies its Yokneam, Israel offices as covered by the company’s ISO 14001 environmental-management system. ⁹

• HIPER Global states that it implemented a compute cluster for NVIDIA’s Israel-1 AI supercomputer, including server infrastructure, testing, integration, on-site deployment, and support at NVIDIA’s data-centre site. ¹⁰

• HIPER Global identifies Dell PowerEdge XE9680 servers, NVIDIA HGX H100 GPUs, Spectrum-X networking, BlueField-3 SuperNICs, and Spectrum-4 switches as part of the Israel-1 implementation. ¹⁰

• The Israel Innovation Authority’s 2025 national AI programme identifies NVIDIA among multinational companies with long-established Israeli R&D centres. ¹¹

• On 12 July 2026, the Israel Innovation Authority announced a NIS 70 million public investment in the Israel BioToken Factory Initiative and named NVIDIA as an industry partner. ¹²

• The BioToken Factory announcement does not state NVIDIA’s financial contribution or ownership interest in the consortium. ¹²

• No public evidence identified in the reviewed materials that NVIDIA holds Israeli sovereign bonds, Israel Bonds, Israel-focused funds, or publicly disclosed portfolio holdings in Israeli-domiciled companies. ¹

Operational Presence & Market Activity

• NVIDIA’s FY2025 Form 10-K states that geopolitical conflict “in and around Israel” could affect operations and refers to approximately 4,700 employees in the region, primarily supporting R&D, operations, and sales and marketing for networking products. ¹

• The filing does not allocate the approximately 4,700 employees by country. ¹

• NVIDIA’s FY2025 sustainability report independently confirms a Yokneam office footprint, while the FY2025 Form 10-K confirms facilities in Israel without providing a complete site list, square footage, or lease-versus-ownership breakdown. ^{1, 9}

• The Israel Innovation Authority characterizes multinational R&D centres including NVIDIA’s as contributors to AI development and employment in Israel’s ecosystem. ¹¹

• No public evidence identified in the reviewed filings of NVIDIA-disclosed revenue attributable specifically to Israel or of NVIDIA characterizing Israel as a separately reported sales market. ¹

• No public evidence identified of NVIDIA manufacturing sites in Israel in the reviewed sources, which substantiate R&D, offices, networking-product operations, and data-centre-related activity rather than semiconductor fabrication or product manufacturing. ^{1, 9, 10}

Corporate Structure & Foundational Ties

• NVIDIA Corporation is incorporated in Delaware, United States, and lists its principal executive offices at 2788 San Tomas Expressway, Santa Clara, California. ¹³

• NVIDIA’s Exhibit 21.1 lists Mellanox Technologies, Ltd. as an Israeli subsidiary as of 25 January 2026 and states that each listed subsidiary is 100% owned. ¹⁴

• The cited corporate record therefore establishes a U.S.-incorporated parent with a wholly owned Israeli operating subsidiary, rather than an Israel-founded, Israel-headquartered, or Israeli tax-resident parent company. ^{13, 14}

• NVIDIA’s 2026 proxy identifies Jensen Huang as a director since 1993, while NVIDIA’s acquisition announcement identifies him as the company’s founder and CEO. ^{2, 15}

• No public evidence identified in the reviewed materials of NVIDIA Preferred Technology Enterprise status, Israeli tax residency, Israeli state ownership, government-appointed directors, golden-share arrangements, charter provisions structurally tying NVIDIA to the Israeli state, or designation as critical national infrastructure. ^{1, 13}

Profit Repatriation & Economic Contribution

• NVIDIA’s consolidated financial statements report $1.287 billion of income taxes paid, net of refunds, to Israel for the fiscal year ended 25 January 2026. ¹³

• The FY2026 filing does not allocate the reported Israeli tax payment among individual Israeli entities or identify the underlying taxable activities. ¹³

• NVIDIA’s FY2025 Form 10-K does not disclose Israel-specific revenue, profit, tax payments, or repatriation flows. ¹

• The available record supports an Israeli R&D and operations footprint but does not quantify flows of profits into or out of Israel. ¹

• The Israel Innovation Authority describes NVIDIA’s Israeli R&D-centre presence as contributing to AI development and employment, but does not quantify NVIDIA’s individual economic contribution. ¹¹