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Nvidia’s AI investment strategy: Inside its top startup bets


No company has leveraged the AI revolution as effectively as Nvidia. Building on its financial success, Nvidia has significantly increased its investments in startups, particularly in the AI space. In 2024, the company participated in 49 funding rounds for AI firms, up from 34 in 2023, according to PitchBook data.

Nvidia emerged as the most aggressive tech player in AI startup funding over the past two years, with 83 deals compared to Alphabet’s 73 and Microsoft’s 40 during the same period.

Key investments:

Perplexity: Nvidia has been a consistent backer of the AI search engine startup since November 2023. In December 2024, Perplexity AI closed a $500 million funding round, tripling its valuation to $9 billion, as per sources. The company is developing a search product to compete with Alphabet Inc.’s Google.

xAI: Nvidia participated in the $6 billion funding round of Elon Musk’s xAI, in December.

Growfast


Wayve: Nvidia contributed to a $1.05 billion funding round in May 2024 for the UK-based autonomous driving startup.

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Also Read:
US-based AI startups that raised over $100 million in funding in 2024Scale AI: In May, Nvidia joined Amazon, Meta and Accel in a $1 billion investment in Scale AI, which provides data-labelling services for AI model training.

Figure AI: The robotics startup raised $675 million in February from Nvidia, Microsoft and others.

Mistral AI: Nvidia made a second investment in the French large language model developer, contributing to its $640 million Series B at a $6 billion valuation in June.



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