NVIDIA

NVIDIA operates as a highly strategic corporate investor, distinct from traditional venture capital firms, with its investment activities deeply integrated into its core business of artificial intelligence, high-performance computing, and graphics. Based in Santa Clara, California, the company primarily seeks to bolster its ecosystem by backing innovative startups and established companies that leverage or enhance its cutting-edge technologies. This approach ensures that its capital deployment directly supports the advancement of its platforms and market reach.

A significant component of NVIDIA's engagement with the startup community is its NVIDIA Inception program. This initiative is not a direct equity funding vehicle but rather a comprehensive platform designed to nurture startups by providing critical resources such as access to NVIDIA's deep learning expertise, advanced GPU technologies, and go-to-market support. The program boasts a vast network, supporting over 18,000 member companies globally, helping them accelerate product development and deployment without necessarily taking an equity stake.

Beyond the Inception program, NVIDIA also makes direct equity investments, often through "NVIDIA Ventures" or directly from the parent company, in strategically aligned businesses. These investments are typically substantial and focused on later-stage companies that have demonstrated significant traction and are poised for growth. For instance, in 2023, NVIDIA made a notable $100 million direct investment in cloud computing provider CoreWeave as part of a larger $221 million Series B round, underscoring its commitment to the AI infrastructure ecosystem. Similarly, NVIDIA led a $150 million Series D funding round for Recursion Pharmaceuticals in 2021, highlighting its interest in AI-driven drug discovery.

NVIDIA's investment thesis revolves around fostering innovation within its technological domains, ensuring a robust pipeline of partners and customers for its hardware and software platforms. While specific typical first check sizes are not always publicly disclosed for their direct equity investments, their participation in significant funding rounds suggests a focus on meaningful capital injections. Based on observed patterns, NVIDIA's typical first cheque size for direct equity investments can range from approximately $5 million to over $100 million, reflecting their strategic intent to fuel growth in companies critical to the future of AI and accelerated computing.