Nvidia participated in nearly 67 venture capital deals in 2025, surpassing the 54 deals completed in all of 2024 and revealing an aggressive strategy to expand the AI ecosystem through strategic investments. The acceleration excludes investments made by NVentures, Nvidia's formal corporate venture capital fund, which engaged in 30 deals in 2025 compared to just one in 2022 according to PitchBook data.
The world's leading high-performance GPU maker has used ballooning fortunes from the AI revolution to significantly increase startup investments. Nvidia's revenue, profitability, and cash reserves skyrocketed since ChatGPT's introduction three years ago, with the company reaching a $4.6 trillion market capitalization before concerns over AI spending brought valuations down to current levels around $3.4 trillion.
Nvidia stated that corporate investing goals center on expanding the AI ecosystem by backing startups it considers game changers and market makers. The strategy ensures customers across industries have access to cutting-edge AI applications and tools powered by Nvidia infrastructure, creating network effects that drive demand for Nvidia chips while positioning the company as essential infrastructure for the entire AI value chain.
The company's most prominent investments target foundation model developers. Nvidia backed OpenAI for the first time in October 2024, reportedly writing a $100 million check as part of a $6.6 billion round that valued the company at $157 billion. While PitchBook data indicates Nvidia did not participate in OpenAI's $40 billion funding round that closed in March 2025, the company announced in September it would invest up to $100 billion in OpenAI over time structured as a strategic partnership to deploy massive AI infrastructure. Nvidia later revealed in quarterly filings that there is no assurance any investment will be completed on expected terms.
Anthropic received Nvidia's first direct investment in November 2025, with Nvidia committing up to $10 billion as part of a strategic round that included a $5 billion check from Microsoft. The investment strengthens Nvidia's position across multiple leading foundation model developers while ensuring these companies continue purchasing Nvidia's latest chip architectures.
Beyond foundation models, Nvidia invests across the AI value chain. The company backs infrastructure startups building data center solutions, networking technologies, and storage systems optimized for AI workloads. Application layer investments target companies deploying AI in healthcare, autonomous vehicles, robotics, financial services, and enterprise software. This diversification spreads risk while ensuring Nvidia maintains relationships with potential category leaders regardless of which specific applications achieve market dominance.
The investment strategy complements Nvidia's recent $20 billion intellectual property deal with Groq, which specializes in inference chips designed for high-speed AI model deployment. The licensing agreement bolsters Nvidia's market position while generating revenue from intellectual property in addition to chip sales. This dual approach of equity investments and strategic partnerships creates multiple pathways to participate in AI ecosystem growth.
Competitive pressures influence Nvidia's investment acceleration. AMD launched competing Instinct MI500 series and Helios rack-scale systems. Google and Amazon developed custom AI processors through partnerships with Anthropic, which already uses their chips alongside Nvidia hardware to power Claude. The Information reported Google holds conversations with Meta and other cloud companies about using Google's chips in their data centers, potentially reducing Nvidia dependence.
Nvidia's investment pace creates advantages beyond financial returns. Portfolio companies provide early feedback on chip architecture needs, helping Nvidia design future generations. Investments grant insight into emerging AI applications before they reach mainstream adoption, informing product roadmap decisions. Strategic relationships can influence portfolio companies' procurement decisions, though Nvidia maintains these investments focus on ecosystem expansion rather than vendor lock-in.
The corporate venture activity reflects Nvidia's evolution from chip manufacturer to AI platform company. By investing across the ecosystem, Nvidia positions itself as essential infrastructure regardless of which specific AI applications, models, or deployment patterns ultimately dominate. Whether foundation models maintain current architectural approaches or shift toward new paradigms, Nvidia's broad investment portfolio ensures participation in multiple possible futures for AI development.
