Nvidia is throwing money at AI startups like confetti at a tech parade. The chip giant participated in 49 AI startup funding rounds in 2024, up from 34 in 2023. That’s more than the 38 deals they managed in the four years before 2023 combined. Someone clearly discovered the checkbook.
The spending spree shows no signs of slowing. By March 2025, Nvidia had already jumped into seven startup funding rounds. Their VC arm, NVentures, went from two deals in 2022 to 24 in 2024. Talk about acceleration.
OpenAI got a cool $100 million from Nvidia during its $6.6 billion round in October. But the real prize in Nvidia’s portfolio? CoreWeave. This AI infrastructure company made up 78% of Nvidia’s reported investment portfolio as of May 2025. When CoreWeave went public in 2025, everyone suddenly noticed Nvidia’s puppet strings.
The company isn’t just writing checks. They’re building an empire. Nvidia joined forces with xAI, Microsoft, BlackRock, and MGX to create a $30 billion AI infrastructure fund. The goal? Raise up to $100 billion for global AI development. Because apparently, $30 billion isn’t enough anymore.
Their CEO keeps preaching about vast computing resources needed for next-gen AI agents and reasoning models. Translation: buy more of our chips. Nvidia markets its full-stack AI infrastructure as essential for turning data into actionable intelligence at scale. Convenient, right?
The Inception program sweetens the deal for startups. No equity required, just join the family. Thousands of startups get developer resources, preferred pricing, technical workshops, and prime spots at Nvidia conferences. It’s like a tech incubator on steroids. Their GTC conference dedicates entire days to AI startups and VCs, creating a captive audience for portfolio companies.
Since ChatGPT exploded onto the scene, Nvidia’s revenue, cash reserves, and stock price have gone vertical. Their AI startup investments helped cement their position as the backbone of the AI ecosystem. They’re not just selling shovels during the gold rush. They’re buying the miners too.
Nvidia targets companies they call “game changers and market makers.” These aren’t random bets. They’re calculated moves to control the AI arena’s future. The startup’s billion-dollar valuations speak volumes—Wayve at $1.05 billion, Scale AI at $14 billion, and Mistral AI at $6 billion all count Nvidia as an investor. The hidden puppet master indeed. Many of these startups leverage Nvidia’s technology to develop systems like those used in protein structure prediction that have revolutionized drug development timelines.
References
- https://techcrunch.com/2025/03/16/nvidias-ai-empire-a-look-at-its-top-startup-investments/
- https://www.nvidia.com/gtc/startups/
- https://www.thestreet.com/technology/one-ai-stock-makes-up-78-of-nvidias-investment-portfolio
- https://www.pymnts.com/artificial-intelligence-2/2025/nvidia-and-xai-sign-on-to-30-billion-ai-infrastructure-fund/
- https://www.nvidia.com/gtc/
