Jensen Huang says Nvidia will announce $2 billion in new European AI investments next week and takes stakes in four French startups
$NVDA - NVIDIA TO ANNOUNCE $2 BILLION IN NEW EUROPEAN AI INVESTMENTS Nvidia CEO Jensen Huang says the company plans to announce $2 billion in European AI investments next week, adding to the $8 billion invested over the past year. Nvidia also announced new funding for four French AI startups: * Doctolib — Healthcare technology *Genesis AI — Robotics *Pigment — Business software *Entalpic — Chemistry and materials research Huang urged Europe to accelerate AI development, emphasizing open-source models, technological sovereignty and robotics. “Europe needs to get in the race.”
Context
Nvidia's investments in Europe aim to grow demand for its chips abroad and position it at the center of European efforts to build their own AI capacity.
DeItaone is relaying news reports, so this is secondhand; Les Echos first reported the French stakes, according to Reuters. Stake sizes and investment amounts for the four startups were not disclosed.
Deep dive
On October 13, DeItaone posted: NVIDIA TO ANNOUNCE $2 BILLION IN NEW EUROPEAN AI INVESTMENTS. The post said Jensen Huang plans to announce $2 billion in European AI investments next week, adding to the $8 billion invested over the past year.
The post said Nvidia also announced new funding for four French AI startups: Doctolib in healthcare technology, Genesis AI in robotics, Pigment in business software and Entalpic in chemistry and materials research. It said Huang urged Europe to accelerate AI development, stressing open source models, technological sovereignty and robotics, and quoted him: Europe needs to get in the race.
Reuters, citing Les Echos, reported that Nvidia is buying minority stakes in the four companies. According to The Next Web and Dealroom, Doctolib said Nvidia's stake will support its development of AI tools, and Genesis AI confirmed Nvidia as a strategic investor.
No amounts were disclosed for the individual stakes. Nvidia has invested in a growing number of AI companies around the world, many of which are also its customers, a pattern critics describe as circular financing.
What to expect next
Watch for the details of the $2 billion European package next week, including which countries, companies and data center projects it covers.
Also watch whether European governments pair Nvidia's money with their own sovereign AI spending, and how much of the investment returns to Nvidia as chip purchases. Reaction from European AI companies such as Mistral will also show whether Nvidia's money is welcomed as support or seen as deepening dependence on a US supplier.