Nvidia has been at the forefront of the AI revolution, with its revenue, profitability, and cash reserves experiencing a significant surge since the introduction of ChatGPT over two years ago. The company’s stock price has also seen a substantial increase. As a result, Nvidia has been able to increase its investments in various startups, particularly those focused on AI.

In the past year, Nvidia has ramped up its venture capital activity, participating in 49 funding rounds for AI companies in 2024, a sharp increase from 34 in 2023. This surge in investment is a significant departure from the previous four years, during which Nvidia funded only 38 AI deals. It’s worth noting that these investments do not include those made by Nvidia’s formal corporate VC fund, NVentures, which has also increased its investing activity over the past two years.

In 2025, Nvidia has already participated in seven funding rounds. The company has stated that its goal in making these investments is to expand the AI ecosystem by supporting startups that have the potential to be “game changers and market makers.”

Below is a list of startups that have raised over $100 million in funding, with Nvidia as a named participant, since 2023. The list is organized from the highest amount raised to the lowest.

The Billion-Dollar Round Club

OpenAI: Nvidia backed OpenAI, the maker of ChatGPT, for the first time in October, with a reported investment of $100 million as part of a $6.6 billion round that valued the company at $157 billion.

xAI: Nvidia also participated in the $6 billion round of Elon Musk’s xAI, despite OpenAI’s request to its investors to refrain from backing direct competitors.

Inflection: One of Nvidia’s earliest significant AI investments was in Inflection, a company founded by Mustafa Suleyman, who previously founded DeepMind. Inflection raised $1.3 billion in June 2023, but its future is now uncertain after Microsoft hired its founders and acquired a non-exclusive license to its technology.

Wayve: In May, Nvidia participated in a $1.05 billion round for Wayve, a UK-based startup developing a self-learning system for autonomous driving.

Scale AI: Nvidia joined Accel and other tech giants, including Amazon and Meta, in investing $1 billion in Scale AI, a data-labeling services provider for training AI models.

The Many Hundreds of Millions of Dollars Club

Crusoe: Crusoe, a startup building data centers, reportedly raised $686 million in late November, with Nvidia among the investors.

Figure AI: AI robotics startup Figure raised $675 million in February 2024, with Nvidia participating in the round, which valued the company at $2.6 billion.

Mistral AI: Nvidia invested in Mistral AI for the second time, as the French-based large language model developer raised a $640 million Series B at a $6 billion valuation.

Lambda: AI cloud provider Lambda raised a $480 million Series D at a reported $2.5 billion valuation in February, with Nvidia among the investors.

Cohere: Nvidia invested in Cohere’s $500 million round in June, with the large language model provider serving enterprises.

Perplexity: Nvidia first invested in Perplexity in November 2023 and has participated in every subsequent round, including the $500 million round in December, which valued the company at $9 billion.

Poolside: AI coding assistant startup Poolside raised $500 million in October, with Nvidia participating in the round, which valued the company at $3 billion.

Deals of Over $100 Million

Ayar Labs: Nvidia invested in the $155 million round of Ayar Labs, a company developing optical interconnects to improve AI compute and power efficiency.

Kore.ai: The startup developing enterprise-focused AI chatbots raised $150 million in December 2023, with Nvidia among the investors.

Hippocratic AI: This startup, which is developing large language models for healthcare, announced in January that it raised a $141 million Series B at a valuation of $1.64 billion, with Nvidia participating in the round.

Weka: Nvidia invested in a $140 million round for Weka, an AI-native data management platform, which valued the company at $1.6 billion.

Runway: Runway, a startup building generative AI tools for multimedia content creators, raised a $141 million Series C extension in June 2023, with Nvidia among the investors.

Bright Machines: Nvidia participated in a $126 million Series C round of Bright Machines, a smart robotics and AI-driven software startup.

Enfabrica: Nvidia invested in Enfabrica’s $125 million Series B round in September 2023, although it did not participate in the company’s subsequent round.

Editor’s note: A previous version of this story incorrectly stated that Nvidia is a backer of Safe Superintelligence and an investor in Vast Data’s Series E round. Nvidia has not invested in Vast Data since the company’s Series D.