Nvidia has aggressively expanded its AI investment strategy, leveraging its dominance in the high-performance GPU market to back a growing number of startups. Since the rise of ChatGPT and other generative AI services, Nvidia has dramatically increased its venture capital activity, participating in 49 funding rounds in 2024, compared to 34 in 2023 and only 38 over the previous four years combined. The company aims to support “game changers and market makers” in AI, funding a wide range of companies, from foundational AI model developers like OpenAI, xAI, and Cohere to robotics firms like Figure AI and autonomous driving startups such as Wayve. Nvidia has also invested in AI cloud providers, including Lambda and CoreWeave, reinforcing its focus on infrastructure that enables large-scale AI adoption. Many of its investments exceed hundreds of millions, with the company participating in billion-dollar rounds alongside major tech investors.
Among these investments, Nvidia has backed Hippocratic AI, a startup focused on developing large language models for healthcare. In January, the company raised a $141 million Series B round, which included Nvidia as a participant, along with Kleiner Perkins, Andreessen Horowitz, and General Catalyst. Hippocratic AI specializes in non-diagnostic patient-facing tasks, such as pre-operative procedures, remote patient monitoring, and appointment preparation. Its focus aligns with Nvidia’s broader strategy of supporting AI-driven automation across various industries, including healthcare. This investment highlights Nvidia’s growing interest in AI applications beyond general computing, particularly in regulated industries where specialized AI models, like those developed by Hippocratic AI, could play a transformative role.