As reported by the Financial Times, the world-renowned chipmaker revealed that it had backed “more than two dozen” companies over the last 12 months as it seeks to consolidate its position as a market leader in AI processors.

The California-based superpower is estimated to have been involved in six times as many deals compared to last year, with a variation of partners from innovative new start-up projects in healthcare and energy to headline AI operations.

It represents a deliberate, bold investment strategy from Nvidia as it outpaced Silicon Valley venture capitalists such as Andreessen Horowitz and Sequoia, according to Dealroom.

Win-win investment strategy

Mohamed Siddeek, Head of NVentures (Nvidia’s bespoke venture entity) spoke to FT on the robust confidence that underpins their recent investment activity.

“Broadly, for Nvidia, the number one criteria [for investments) is relevancy.”

“Companies that use our technology, who depend on our technology, who build their businesses on our technology, I can’t think of a situation where we’ve invested in a company that did not use Nvidia products.”

Nvidia’s overall portfolio now includes Inflection AI and Cohere, said to be two of the biggest competitors to OpenAI, creator of ChatGPT.