Nvidia Became The Most Active Investor in Generative AI Start-Ups

IBL News | New York

Nvidia invested in 35 AI start-ups in 2023, almost six times more than last year,  according to estimates by Dealroom. It both leads rounds itself and invests alongside VC firms.

These investments made Nvidia the most active large-scale investor in AI, outstripping iconic VCs in Silicon Valley, such as Andreessen Horowitz and Sequoia.

All of the invested companies are Nvidia customers, whether using its GPU chips or its software.

The company’s portfolio includes Inflection AI, Cohere, Hugging Face, CoreWeave, and Mistral.

“For Nvidia, the number one criteria for making start-up investments is relevancy,” Mohamed Siddeek, Head of NVentures (Nvidia’s venture arm), told the Financial Times.

NVentures looks to generate healthy returns from its investments, while its corporate development team could invest for more strategic purposes,” Mohamed Siddeek said.