Nvidia has dramatically escalated its investments in AI startups, participating in 49 funding rounds in 2024 alone, a significant increase from previous years. This growth follows its monumental success since the debut of ChatGPT, leading to considerable revenue and stock gains. Nvidia’s aim is to support transformative AI ventures, with a focus on strategic investments amounting to billions in high-potential companies.
Nvidia has emerged as a powerhouse in the AI landscape, with its finances—revenue, profits, and cash reserves—soaring since ChatGPT launched over two years ago. This remarkable growth is reflected in its surging stock price, positioning the company at the forefront of the AI revolution. Embracing this momentum, Nvidia has dramatically ramped up its investments, particularly in AI startups, showcasing its ambition to truly dominate the industry.
In 2024, Nvidia’s venture capital efforts surged, participating in 49 funding rounds dedicated to AI, a leap from 34 in 2023 and a significant uptick from just 38 investments made in all of the previous four years combined. This jump does not account for additional investments through NVentures, Nvidia’s corporate VC fund, which itself engaged in 24 deals, up from a mere 2 in 2022. Thus far in 2025, Nvidia has already joined in seven funding rounds.
The company aims to foster the AI ecosystem by investing in startups it believes are “game changers and market makers.” A glimpse into Nvidia’s recent investments reveals a pattern of backing startups with substantial funding rounds. Listed from the highest to lowest amounts raised, the prominent players in this league include:
The Billion-Dollar Club:
– OpenAI: Nvidia’s $100 million investment in October contributed to a massive $6.6 billion round, valuing OpenAI at $157 billion.
– xAI: A $6 billion investment round was joined by Nvidia, showing its play in Elon Musk’s xAI shortly after investing in OpenAI.
– Inflection: Nvidia led a $1.3 billion round for this startup founded by a DeepMind co-founder, which later saw its founders hired by Microsoft for $620 million.
– Wayve: The U.K. startup raised $1.05 billion in May, dedicated to self-learning autonomous driving systems.
– Scale AI: Nvidia joined a $1 billion round in May for this data-labeling service provider, significantly valuing it at nearly $14 billion.
The Hundreds of Millions Club:
– Crusoe: This startup building data centers raised $686 million, with Nvidia among its investors.
– Figure AI: In February 2024, this robotics startup secured $675 million with Nvidia’s support.
– Mistral AI: Nvidia participated again in Mistral’s $640 million Series B in June.
– Lambda: Raising $480 million in February, this AI cloud provider was co-led by Nvidia.
– Cohere: Nvidia invested $500 million in this large language model provider in June.
– Perplexity: With Nvidia’s ongoing backing, this AI search engine raised $500 million in a recent funding round.
– Poolside: The AI coding assistant startup announced $500 million, indicating Nvidia’s involvement.
– CoreWeave: After Nvidia’s initial investment, this AI cloud provider saw its valuation skyrocket to $19 billion.
– Together AI: Again backed by Nvidia, this company raised $305 million, valued at $3.3 billion.
– Sakana AI: Nvidia invested in the $214 million Series A for this Japanese startup training generative AI models.
– Imbue: An AI research lab developing reasoning and coding systems raised $200 million in September.
– Waabi: This autonomous trucking startup raised $200 million with multiple investors, including Nvidia.
Deals Over $100 Million:
– Ayar Labs: Nvidia invested $155 million, being a recurrent backer of this startup developing optical interconnects.
– Kore.ai: This enterprise AI chatbot company raised $150 million with Nvidia’s participation.
– Hippocratic AI: Nvidia supported a $141 million round for this startup developing healthcare-focused large language models.
– Weka: Nvidia contributed to a $140 million round for this AI-native data management platform.
– Runway: The generative AI tools creator raised $141 million in June 2023, including Nvidia’s investment.
– Bright Machines: Nvidia took part in a $126 million Series C for this robotics startup.
– Enfabrica: Nvidia invested $125 million in this networking chip designer, showcasing its ongoing interest in technology innovation.
Overall, Nvidia’s strategic investments in AI startups reflect its commitment to enhancing the AI ecosystem and capitalizing on emerging technologies. With significant stakes in various notable companies spanning multiple funding rounds, Nvidia is not merely chasing trends but actively shaping the future of AI. Through continued engagement with startups that exhibit game-changing potential, Nvidia solidifies its position as a key player in the AI industry, aiming to drive innovation through financial backing.
Original Source: techcrunch.com
