Nvidia Plans $2B in European AI Deals Over Next Week
Nvidia is set to announce $2 billion in European Artificial Intelligence (AI) investments within the week, building on its substantial commitment of $8 billion over the past year. Jensen Huang, CEO of Nvidia, made these revelations during a speech in Paris, as part of a tour that includes London and Berlin.
"Europe needs to get in the race," Huang stated, emphasizing open-source models as a cost-effective and adaptable solution for the continent. He also named four French startups receiving funding from Nvidia: Doctolib, Genesis AI, Pigment, and Entalpic.
While the sums may appear modest compared to Nvidia's immense valuation—around $5.7 trillion this month—the company has been investing heavily worldwide. Its equity holdings reached $99 billion by July, primarily in companies that utilize its chips.
Huang's pitch to Europe revolves around sovereignty, highlighting that open-source models can be tailored for specific languages and independent control.
"Open weights lower the cost of the model and leave the hardware bill exactly where it was, which is with Nvidia," he noted, referring to Mistral's upcoming Large 4 on 4,000 GPU training.
One of the new investments, Doctolib, has already seen its valuation change. A secondary sale in April valued the company at €3.6 billion, a significant discount from its €5.8 billion post-2022 raise.
This announcement coincides with Nvidia's GTC conference in Berlin, scheduled from October 20 to 22, as European debates on AI development intensify.