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 three years ago — and the many competitive generative AI services that have launched since. Its stock price has soared, making it a $4.6 trillion market cap company. The world’s leading high-performance GPU maker has used its ballooning fortunes to significantly increase investments in startups, particularly in AI. Nvidia has participated in nearly 67 venture capital deals in 2025, surpassing the 54 deals the company completed in all of 2024, according to PitchBook data. Note that these investments exclude those made by its formal corporate VC fund, NVentures, which also significantly increased its investment pace over that period. (PitchBook says NVentures engaged in 30 deals this year, compared to just one in 2022.) 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 <head>00 million since 2023 where Nvidia is a named participant, organized from the highest to lowest amount raised in the round. This list shows just how far and wide Nvidia has spread its tentacles in the tech industry, beyond supplying its products. The billion-dollar-round club OpenAI: Nvidia backed the ChatGPT maker for the first time in October 2024, reportedly writing a <head>00 million check as part of a colossal $6.6 billion round that valued the company at <head>57 billion. The chipmaker’s investment was dwarfed by OpenAI’s other backers, notably Thrive, which invested <head>.3 billion according to The New York Times. While PitchBook data indicates Nvidia did not participate in OpenAI’s $40 billion funding round that closed in March, the company announced in September that it would invest up to <head>00 billion in OpenAI over time, structured as a strategic partnership to deploy massive AI infrastructure. Nvidia later revealed in its quarterly filings that it might not follow through, stating, “There is no assurance that any investment will be completed on expected terms, if at all.” Techcrunch event San Francisco | October 13-15, 2026 Anthropic: In November 2025, Nvidia made its first direct investment in the AI lab, committing up to <head>0 billion as part of a strategic round that included a $5 billion check from Microsoft. In a “circular” spending agreement, Anthropic committed to spending $30 billion on Microsoft Azure compute capacity, as well as buy Nvidia’s future Grace Blackwell and Vera Rubin systems. Cursor: In November, Nvidia made its first strategic investment in the AI-powered code assistant participating in a massive $2.3 billion Series D round co-led by Accel and Coatue. The deal valued Cursor at $29.3 billion, a nearly 15-fold increase since the start of the year. While Nvidia has long been an enterprise customer, the round marked its official entry as a shareholder alongside Google. xAI: In 2024, OpenAI tried to persuade its investors not to invest in any of its rivals. But Nvidia participated in the $6 billion round of Elon Musk’s xAI last December anyway. Nvidia will also invest up to $2 billion in the equity portion of xAI’s planned $20 billion funding round, Bloomberg reported, a deal structured to help xAI purchase more Nvidia gear. Mistral AI: Nvidia invested in Mistral for the third time when the French-based large language model (LLM) developer raised a €1.7 billion (about $2 billion) Series C at a €11.7billion (<head>3.5 billion) post-money valuation in September. Reflection AI: In October, Nvidia was one of the most significant investors in Reflection AI, contributing to a $2 billion funding round that valued the one-year-old startup at $8 billion. Reflection AI is positioning itself as a U.S.-based competitor to Chinese DeepSeek, whose open source LLM offers a less-expensive alternative to closed source models from companies such as OpenAI and Anthropic. Thinking Machines Lab: Nvidia was among a long list of investors who backed former OpenAI chief technology officer Mira Murati’s Thinking Machines Lab’s $2 billion seed round. The funding, which was formally announced in July, valued the new AI startup at <head>2 billion. Inflection: One of Nvidia’s first significant AI investments also had one of the more unusual (but increasingly common) outcomes. In June 2023, Nvidia was one of several lead investors in Inflection’s <head>.3 billion round, a company co-founded by Mustafa Suleyman, the famed founder of DeepMind. Less than a year later, Microsoft hired Inflection’s founders, paying $620 million for a non-exclusive technology license, leaving