Nvidia isn’t just riding along with AI—it’s creating it. Over the last couple of years, the chipmaker has leveraged its dominance in high-performance GPUs to become a champion in AI.
Its stock has grown, multiplying more than eightfold, far beyond the company’s expectations, and its financial success—fueled by the rise of tools like ChatGPT—has been nothing short of phenomenal.
Nvidia’s story isn’t just about profits. The company is fundamentally changing how corporations invest, pouring billions into startups the company believes will define the next chapter of AI innovation.
When we look at its venture capital activity in 2024, Nvidia participated in a remarkable 49 AI funding rounds, a big leap from 34 in 2023.
To put that in perspective, those two years alone saw more deals than the previous four years combined, according to PitchBook data. And that doesn’t even account for its corporate VC arm, NVentures, which went from a mere two deals in 2022 to an impressive 24 by 2024.
Nvidia’s strategy is clear: it’s not simply capitalizing on AI—it’s building the infrastructure that makes it possible. This isn’t just about making money; it’s about shaping the very future of AI. Nvidia describes its investments as bets on “game changers and market makers,” and its portfolio speaks volumes.
Big Bets, Big Impact
One of the most talked-about moves was Nvidia’s involvement in OpenAI’s colossal $6.6 billion funding round, which valued the ChatGPT creator at a staggering $157 billion. While Nvidia’s $100 million contribution was smaller compared to investors like Thrive, which put in $1.3 billion, it shows Nvidia’s commitment and position as a key player in the AI revolution.
Nvidia didn’t stop there. It also joined the $6 billion funding round for Elon Musk’s xAI, a direct competitor to OpenAI. This dual investment raised eyebrows, placing Nvidia as a backer of both a leading AI innovator and one of its biggest rivals.
Other major investments include Inflection AI, which landed $1.3 billion in 2023, and Scale AI, which secured $1 billion in 2024. Both startups embody Nvidia’s dedication to supporting groundbreaking technologies, from natural language processing to essential data labeling services.
How about Investing in the Future?
Nvidia’s investments go beyond the big names. It’s also backing up CoreWeave, a cloud computing provider that lets users rent Nvidia GPUs by the hour. Since Nvidia’s initial investment in 2023, CoreWeave’s valuation has skyrocketed from $2 billion to a reported $19 billion, with whispers of a $35 billion IPO on the horizon.
Another company on the list is Wayve, a U.K.-based startup developing self-learning systems for autonomous vehicles. Nvidia joined a $1.05 billion funding round in May, supporting Wayve’s ambitious testing programs in the U.K. and California.
Nvidia’s influence extends far beyond Silicon Valley. In Japan, it invested in Sakana AI’s $214 million Series A to support the development of more accessible generative AI models. In France, Mistral AI raised $640 million in 2024 with Nvidia as a key investor, demonstrating Nvidia’s global reach and commitment to nurturing AI innovation worldwide.
While some of Nvidia’s investments target specific technologies, others focus on strengthening the underlying AI infrastructure. Companies like Weka, specializing in AI-native data management, and Ayar Labs, developing optical interconnects, illustrate how Nvidia is building an ecosystem that improves AI’s efficiency and scalability.
This holistic approach has transformed Nvidia from a simple hardware provider into a driving force behind the entire AI industry. With investments spanning robotics (Figure AI), autonomous trucking (Waabi), and multimedia content creation (Runway), Nvidia is ensuring its influence resonates across the tech world.
What’s Next?
As AI continues to reshape tech industries, Nvidia’s role is undeniable. By investing in disruptive startups, the company isn’t just following the trend—it’s setting it. From massive funding rounds to strategic bets on emerging technologies, Nvidia has firmly established itself at the center of the AI revolution.
In a world increasingly shaped by artificial intelligence, Nvidia’s vision is clear: to empower innovators, build a thriving ecosystem, and define the future. And with its investments continuing to pay off, Nvidia’s influence is only set to grow.
