No company has capitalized on the AI revolution more dramatically than Nvidia. Its revenue, profitability, and cash reserves have skyrocketed since the introduction of ChatGPT over two years ago — and the many competitive generative AI services that have launched since. And its stock price soared.
During that period, the world’s leading high-performance GPU maker has used its ballooning fortunes to significantly increase investments in all sorts of startups but particularly in AI startups.
The chip giant ramped up its venture capital activity in 2024, participating in 49 funding rounds for AI companies, a sharp increase from 34 in 2023, according to PitchBook data. It’s a dramatic surge in investment compared to the previous four years combined, during which Nvidia funded only 38 AI deals. Note that these investments exclude those made by its formal corporate VC fund, NVentures, which also significantly ramped up its investing in the last two years. (PitchBook says NVentures engaged in 24 deals in 2024, compared to just 2 in 2022.)
In 2025, Nvidia has already participated in seven rounds.
Nvidia has stated that the goal of its corporate investing is to expand the AI ecosystem by backing startups it considers to be “game changers and market makers.”
Below is a list of startups that raised rounds exceeding $100 million where Nvidia is a named participant since 2023, including new ones it has backed so far in 2025, organized from the highest amount to lowest raised in the round.
The billion-dollar-round club
OpenAI: Nvidia backed the ChatGPT maker for the first time in October, reportedly writing a $100 million check toward a colossal $6.6 billion round that valued the company at $157 billion. The chipmaker’s investment was dwarfed by OpenAI’s other backers, notably Thrive, which according to the New York Times invested $1.3 billion.
xAI: Nvidia participated in the $6 billion round of Elon Musk’s xAI. The deal revealed that not all of OpenAI’s investors followed its request to refrain from backing any of its direct competitors. After investing in the ChatGPT maker in October, Nvidia joined xAI’s cap table a few months later.
Inflection: One of Nvidia’s first significant AI investments also had one of the most unusual outcomes. In June 2023, Nvidia was one of several lead investors in Inflection’s $1.3 billion round, a company founded by Mustafa Suleyman, who earlier founded DeepMind. Less than a year later, Microsoft hired Inflection AI’s founders, paying $620 million for a non-exclusive technology license, leaving the company with a significantly diminished workforce and a less defined future.
Wayve: In May, Nvidia participated in a $1.05 billion round for the U.K.-based startup, which is developing a self-learning system for autonomous driving. The company is testing its vehicles in the U.K. and the San Francisco Bay Area.
Scale AI: In May 2024, Nvidia joined Accel and other tech giants Amazon and Meta to invest $1 billion in Scale AI, which provides data-labeling services to companies for training AI models. The round valued the San Francisco-based company at nearly $14 billion.
The many-hundreds-of-millions-of-dollars club
Crusoe: A startup building data centers reportedly to be leased to Oracle, Microsoft, and OpenAI raised $686 million in late November, according to an SEC filing. The investment was led by Founders Fund, and the long list of other investors included Nvidia.
Figure AI: In February 2024, AI robotics startup Figure raised a $675 million Series B from Nvidia, OpenAI Startup Fund, Microsoft, and others. The round valued the company at $2.6 billion.
Mistral AI: Nvidia invested in Mistral for the second time when the French-based large language model developer raised a $640 million Series B at a $6 billion valuation in June.
Lambda: AI cloud provider Lambda, which provides services for model training, raised a $480 million Series D at a reported $2.5 billion valuation in February. The round was co-led by SGW and Andra Capital Lambda, and joined by Nvidia, ARK Invest, and others. A significant part of Lambda’s business involves renting servers powered by Nvidia’s GPUs.
Cohere: In June, Nvidia invested in Cohere’s $500 million round, a large language model provider serving enterprises. The chipmaker first backed the Toronto-based startup in 2023.
Perplexity: Nvidia first invested in Perplexity in November of 2023 and has participated in every subsequent round of the AI search engine startup, including the $500 million round in December, which values the company at $9 billion, according to PitchBook data.
Poolside: In October, the AI coding assistant startup Poolside announced it raised $500 million led by Bain Capital Ventures. Nvidia participated in the round, which valued the AI startup at $3 billion.
CoreWeave: Nvidia invested in the AI cloud computing provider in April 2023, when CoreWeave raised $221 million in funding. Since then, CoreWeave’s valuation has jumped from about $2 billion to $19 billion, and the company has filed for an IPO. CoreWeave allows its customers to rent Nvidia GPUs on an hourly basis.
Together AI: In February, Nvidia participated in the $305 million Series B of this company, which offers cloud-based infrastructure for building AI models. The round valued Together AI at $3.3 billion and was co-led by Prosperity7, a Saudi Arabian venture firm, and General Catalyst. Nvidia backed the company for the first time in 2023.
Sakana AI: In September, Nvidia invested in the Japan-based startup, which trains low-cost generative AI models using small datasets. The startup raised a massive Series A round of about $214 million at a valuation of $1.5 billion.
Imbue: The AI research lab that claims to be developing AI systems that can reason and code raised a $200 million round in September 2023 from investors, including Nvidia, Astera Institute, and former Cruise CEO Kyle Vogt.
Waabi: In June, the autonomous trucking startup raised a $200 million Series B round co-led by existing investors Uber and Khosla Ventures. Other investors included Nvidia, Volvo Group Venture Capital, and Porsche Automobil Holding SE.
Deals of over a $100 million
Ayar Labs: In December, Nvidia invested in the $155 million round of Ayar Labs, a company developing optical interconnects to improve AI compute and power efficiency. This was the third time Nvidia backed the startup.
Kore.ai: The startup developing enterprise-focused AI chatbots raised $150 million in December of 2023. In addition to Nvidia, investors participating in the funding included FTV Capital, Vistara Growth, and Sweetwater Private Equity.
Sandbox AQ: In April, Nvidia, alongside Google, BNP Paribas and others, invested $150 million in Sandbox AQ, a startup developing large quantitative models (LQMs) for handling complex numerical analysis and statistical calculations. The investment increased Sandbox AQ’s Series E round to $450 million and the company’s valuation to $5.75 billion.
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 led by Kleiner Perkins. Nvidia participated in the round, along with returning investors Andreessen Horowitz, General Catalyst, and others. The company claims that its AI solutions can handle non-diagnostic patient-facing tasks such as pre-operating procedures, remote patient monitoring, and appointment preparation.
Weka: In May, Nvidia invested in a $140 million round for AI-native data management platform Weka. The round valued the Silicon Valley company at $1.6 billion.
Runway: In June of 2023, Runway, a startup building generative AI tools for multimedia content creators, raised a $141 million Series C extension from investors, including Nvidia, Google, and Salesforce.
Bright Machines: In June 2024, Nvidia participated in a $126 million Series C of Bright Machines, a smart robotics and AI-driven software startup.
Enfabrica: In September 2023, Nvidia invested in networking chips designer Enfabrica’s $125 million Series B. Although the startup raised another $115 million in November, Nvidia didn’t participate in the 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 hasn’t invested in Vast Data since the company’s Series D.
Source link
#Nvidias #empire #top #startup #investments #TechCrunch
![EON wants to move the data superhighway from ocean fiber to space lasers | TechCrunch
As hyperscalers build out data centers around the world, they need to move the bits back and forth, and that often relies on a somewhat brittle network of undersea fiberoptic cables crisscrossing the oceans.
Those cables are tricky to access and repair, much less install. But alternatives aren’t easy to find: Radio transmissions don’t have the bandwidth, which rules out most wireless approaches on the ground or in orbit. But now, maybe lasers could do the job.
Endeavor Optical Networks, a start-up founded in May and emerging from stealth today with .75 million in seed funding from General Catalyst and Andreessen Horowitz, is betting on that plan. The co-founders, CEO Charlie Horowitz and CTO Tyler Presser, aim to launch a network of laser-equipped spacecraft to link data centers from orbit.
Most satellite communications networks, even those that provide broadband internet service, aren’t robust enough to carry data at 200 terabits a second or more, the speed of undersea fiber.
However, more powerful satellites and advances in optical technology are making space-to-ground communications with lasers more feasible. NASA used laser comms to beam back data from its most recent Moon mission, while a handful of private space companies, including York, Kepler, and Cailabs, have demonstrated links between Earth orbit and the ground.
Those connections, however, aimed for a throughput of 2.5 Gbps, and EON has a bigger starting goal, Horowitz says: Throughput of 2.4 terabits a second. That will require some secret sauce to deal with one of the biggest problems with laser comms—how the signal is distorted by the atmosphere as it passes through it, particularly when clouds are blocking the way.
EON intends to build a network of about 20 satellites, each able to provide a dedicated link between two continents, with the initial fleet providing 24 hour coverage for early customers. The company will carefully choose ground stations in different regions to serve local data centers and CDNs, using redundant sites and leveraging weather data to ensure a reliable link.
The startup is talking to hyperscalers and AI labs as customers, since they move more data than anyone else, with the focus on underserved or expensive routes: Lengthy ones, like France to Australia, or those without extensive existing infrastructure, like crossing between Africa and South America. They plan to sell dedicated capacity to entice customers interested in full control of their data transit.
First, though, EON will use its seed round to build out an optics lab, hire more engineers, and perform ground tests ahead of a demo satellite they hope to launch around the end of 2027. Horowitz expects that spacecraft to offer the highest optical downlink throughput yet seen—at least 800 gigs and perhaps a terabit.
Doing that will require careful engineering. EON will focus on producing the optical communications terminal, carefully allocating spending to the components that must be exquisite, like the gimbals that will point the laser. The company plans to buy powerful off-the-shelf satellite busses, like those made by Apex Space, Horowitz’s previous employer.
Horowitz served as Apex CEO Ian Cinnamon’s chief of staff and then as the company’s director of special projects. “Charlie is a force of nature—he can move seamlessly from strategy to the details required to make something real,” Cinnamon told TechCrunch. “Charlie is the ideal founder, and I invested personally because I believe deeply in Charlie and what he’s building at EON with Tyler.”
In addition to Pressler, a PhD astronautical engineer who has planned frontier missions for NASA, the company’s technical bench includes Michael David Francois, a long-time Google executive focused on global network infrastructure, and Wesley Baxter, an optics engineer who most recently worked on Amazon’s LEO satellite network.
Jeannette zu Fürstenburg, the General Catalyst partner who led the investment, said she sees it uniting the fund’s two key themes—AI and resilience.
“I don’t worry about demand,” she told TechCrunch. “I think all of that will solve for itself. It’s really all about can you actually get this thing into space in the time that we discussed? We really think about founder-product fit, [Horowitz] is just the right caliber of guy to go after a problem like this.”
They aren’t the only one chasing this problem—Blue Origin, Jeff Bezos’ space company, has announced plans for TeraWave, a 5,048 satellite network that aims to provide speeds of up to 6 Tbps to large-scale users. Blue’s plan is more ambitious, but will also require more time to launch and deploy. EON’s smaller fleet of satellites should be easier to get into space quickly, but they will need to solve many of the same technical challenges.
“Data centers have high standards for quality and redundancy,” points out Caleb Henry, the director of research at Quilty Space. “Satellite internet is just now progressing from a technology of last resort to dependable, high-bandwidth infrastructure. That’s not to say it will be impossible to make satellites optimized for data center connectivity, just that it will be harder and take longer than most entrepreneurs suggest.”Still, a project like may be more practical compared to the popular idea of building the data centers themselves in space.
“We have one rule at the company: no physics problems,” Horowitz says. “There’s a market that exists today that we can go serve. Down the road, we’ll go and take on more as it comes, but we know that this is a problem that exists today, that’s only getting worse. That’s our bet—more data is moving terrestrially than ever.”
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.#EON #move #data #superhighway #ocean #fiber #space #lasers #TechCrunchExclusive](https://i3.wp.com/techcrunch.com/wp-content/uploads/2026/08/EON-Co-Founders_Horizontal_Philip-Cheung.jpg?resize=1200%2C898&ssl=1 "EON wants to move the data superhighway from ocean fiber to space lasers | TechCrunch
As hyperscalers build out data centers around the world, they need to move the bits back and forth, and that often relies on a somewhat brittle network of undersea fiberoptic cables crisscrossing the oceans.
Those cables are tricky to access and repair, much less install. But alternatives aren’t easy to find: Radio transmissions don’t have the bandwidth, which rules out most wireless approaches on the ground or in orbit. But now, maybe lasers could do the job.
Endeavor Optical Networks, a start-up founded in May and emerging from stealth today with .75 million in seed funding from General Catalyst and Andreessen Horowitz, is betting on that plan. The co-founders, CEO Charlie Horowitz and CTO Tyler Presser, aim to launch a network of laser-equipped spacecraft to link data centers from orbit.
Most satellite communications networks, even those that provide broadband internet service, aren’t robust enough to carry data at 200 terabits a second or more, the speed of undersea fiber.
However, more powerful satellites and advances in optical technology are making space-to-ground communications with lasers more feasible. NASA used laser comms to beam back data from its most recent Moon mission, while a handful of private space companies, including York, Kepler, and Cailabs, have demonstrated links between Earth orbit and the ground.
Those connections, however, aimed for a throughput of 2.5 Gbps, and EON has a bigger starting goal, Horowitz says: Throughput of 2.4 terabits a second. That will require some secret sauce to deal with one of the biggest problems with laser comms—how the signal is distorted by the atmosphere as it passes through it, particularly when clouds are blocking the way.
EON intends to build a network of about 20 satellites, each able to provide a dedicated link between two continents, with the initial fleet providing 24 hour coverage for early customers. The company will carefully choose ground stations in different regions to serve local data centers and CDNs, using redundant sites and leveraging weather data to ensure a reliable link.
The startup is talking to hyperscalers and AI labs as customers, since they move more data than anyone else, with the focus on underserved or expensive routes: Lengthy ones, like France to Australia, or those without extensive existing infrastructure, like crossing between Africa and South America. They plan to sell dedicated capacity to entice customers interested in full control of their data transit.
First, though, EON will use its seed round to build out an optics lab, hire more engineers, and perform ground tests ahead of a demo satellite they hope to launch around the end of 2027. Horowitz expects that spacecraft to offer the highest optical downlink throughput yet seen—at least 800 gigs and perhaps a terabit.
Doing that will require careful engineering. EON will focus on producing the optical communications terminal, carefully allocating spending to the components that must be exquisite, like the gimbals that will point the laser. The company plans to buy powerful off-the-shelf satellite busses, like those made by Apex Space, Horowitz’s previous employer.
Horowitz served as Apex CEO Ian Cinnamon’s chief of staff and then as the company’s director of special projects. “Charlie is a force of nature—he can move seamlessly from strategy to the details required to make something real,” Cinnamon told TechCrunch. “Charlie is the ideal founder, and I invested personally because I believe deeply in Charlie and what he’s building at EON with Tyler.”
In addition to Pressler, a PhD astronautical engineer who has planned frontier missions for NASA, the company’s technical bench includes Michael David Francois, a long-time Google executive focused on global network infrastructure, and Wesley Baxter, an optics engineer who most recently worked on Amazon’s LEO satellite network.
Jeannette zu Fürstenburg, the General Catalyst partner who led the investment, said she sees it uniting the fund’s two key themes—AI and resilience.
“I don’t worry about demand,” she told TechCrunch. “I think all of that will solve for itself. It’s really all about can you actually get this thing into space in the time that we discussed? We really think about founder-product fit, [Horowitz] is just the right caliber of guy to go after a problem like this.”
They aren’t the only one chasing this problem—Blue Origin, Jeff Bezos’ space company, has announced plans for TeraWave, a 5,048 satellite network that aims to provide speeds of up to 6 Tbps to large-scale users. Blue’s plan is more ambitious, but will also require more time to launch and deploy. EON’s smaller fleet of satellites should be easier to get into space quickly, but they will need to solve many of the same technical challenges.
“Data centers have high standards for quality and redundancy,” points out Caleb Henry, the director of research at Quilty Space. “Satellite internet is just now progressing from a technology of last resort to dependable, high-bandwidth infrastructure. That’s not to say it will be impossible to make satellites optimized for data center connectivity, just that it will be harder and take longer than most entrepreneurs suggest.”Still, a project like may be more practical compared to the popular idea of building the data centers themselves in space.
“We have one rule at the company: no physics problems,” Horowitz says. “There’s a market that exists today that we can go serve. Down the road, we’ll go and take on more as it comes, but we know that this is a problem that exists today, that’s only getting worse. That’s our bet—more data is moving terrestrially than ever.”
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.#EON #move #data #superhighway #ocean #fiber #space #lasers #TechCrunchExclusive")
Post Comment