Nvidia now joins more $100M+ VC rounds than any investor
In the first eight months of 2026 Nvidia was an investor in 53 venture rounds of $100M or more. That counts rounds joined, not money invested. Andreessen Horowitz was in 44, Sequoia 42, Lightspeed 38. In 2021 Nvidia was in one.
Nvidia's quarterly filing for the period to 26 July 2026 values its equity investments at $99B, up from about $7B a year earlier. The filing says what the stakes are worth. Dealroom's funding data shows where the activity went, counted as rounds joined rather than money invested.
Dealroom records which investors took part in a round and the round's total size, not how the total splits between them. Nvidia was one of nine investors in OpenAI's $122B round, and only Nvidia's own disclosure says its share was $30B. Where a cheque is known it is marked as Nvidia's figure; everywhere else the number is the round. Nvidia here includes NVentures, its venture arm, and 2026 runs from January to August.
Start with every round Nvidia has joined. Counting rounds of every size, Nvidia took part in 88 venture rounds between January and 8 September 2026, against 86 in all of 2025 and 26 in 2021. At the 2026 pace the year ends near 128.
Nvidia as a VC investor
Number of VC rounds with Nvidia participation. Includes NVentures.
Source: Dealroom.co · 2026 data to 8 Sep + annualised projection
The change is sharpest at the top of the market. In the first eight months of 2026 Nvidia was in 53 VC rounds of $100M or more. In the same eight months of 2025 it was in 22, behind Andreessen Horowitz on 28 and Sequoia on 25. The ranking covers every investor named on any of the 762 VC rounds of $100M or more between January and August 2026, not a chosen set; Nvidia without NVentures would still rank third, with 39.
The nine investors in the most $100M+ VC rounds, 2026 so far
Rounds joined, January to August 2026, with the same months of 2025 and all of 2021. Alphabet includes Google, GV, CapitalG and Gradient.
Source: Dealroom.co
The firms that defined the last megaround cycle went the other way. In 2021 Tiger Global joined 189 rounds of $100M or more, SoftBank 166 and Coatue 99. In the first eight months of 2026 they joined 13, 10 and 27. Nvidia's climb was steady: one round in 2021, 18 in 2023, 21 in 2024, 46 in 2025 and 53 so far in 2026. General Catalyst, in more megarounds than anyone in 2025 with 53, has joined 26 this year.
Nvidia joined 53 VC rounds of $100M+ in 2026, more than any VC firm
Nvidia includes NVentures; Alphabet includes Google, GV, CapitalG and Gradient. 2026 is January to August.
Source: Dealroom.co
The rounds Nvidia joined in 2026 raised $205B between them. Three account for $172B of that: OpenAI's $122B round, Anthropic's $30B Series G and xAI's $20B Series E. Nvidia has said it put $30B into the OpenAI round and committed up to $10B to Anthropic. Take the three labs out and the rest still raised $33B, across robotics, chips and AI cloud providers. Dealroom lists Nvidia as a lead investor on 12 of its 2026 rounds.
The 2026 rounds Nvidia joined: three labs at $172B, then 12 of $1B+
Full round sizes, not Nvidia's own cheque; the two cheques Nvidia has confirmed are on the cards.
Source: Dealroom.co
What the companies sell shows where the money sits in the stack. Of the 53 rounds, 19 went to companies that train models, 12 to companies that sell GPU capacity or run models for others, 6 to chip, networking and data-centre power companies, and 11 to makers of robots and autonomous vehicles. 5 went to companies that apply AI to law, materials, engineering and healthcare. The first four layers sit between the chip and the end user; only the application companies sell to businesses outside the AI industry, and together they raised $1.8B of the $205B.
48 of Nvidia's 53 rounds went to AI builders, five to AI users
Companies grouped by what they sell. Bar length is rounds joined; the figure is what those rounds raised.
Source: Dealroom.co
Nvidia's rounds are crowded. They list 8.5 investors on average, against 5.8 for the average megaround, and 273 different investors shared at least one of them. The two that shared most are not venture firms. AMD, Nvidia's main rival in AI chips, was in 9 of Nvidia's 53 rounds, counting AMD Ventures, and those 9 are most of the 13 megarounds AMD joined this year. Alphabet was in 9 as well. Among venture firms Sequoia shared 7 and Andreessen Horowitz 6. Radical Ventures, the Toronto AI fund, had Nvidia in 6 of its 9.
AMD and Alphabet each shared 9 of Nvidia's 53 rounds, more than any venture firm
Investors on the same 2026 $100M+ rounds as Nvidia, and how many of their own such rounds Nvidia was in. AMD includes AMD Ventures; Samsung includes its venture funds; Alphabet includes Google, GV, CapitalG and Gradient.
Source: Dealroom.co
The rounds are also concentrated by geography. Nvidia was in 37 of the 419 megarounds raised by US companies, 9%, and in 12 of Europe's 105, 11%. That makes it the most active investor in European megarounds this year, ahead of Temasek on 8 and Lightspeed and Index Ventures on 7, and it was in 9 of the 39 raised by UK companies. It was in none of the 151 megarounds raised by Chinese companies, none in India and none in the Middle East. US export controls limit what Nvidia can sell in China; the capital follows the chips.
Nvidia is in 12 of Europe's 105 megarounds, more than any other investor, and in none of China's 151
By the headquarters of the company raising. 2026 is January to August.
Source: Dealroom.co
What this means
Nvidia sits on the cap tables of many of the companies that buy its chips. The 53 megarounds it joined in eight months put it ahead of every venture firm, and the portfolio it reports is worth $99B. A founder raising $100M or more in 2026 was more likely to have Nvidia in the round than Sequoia.
For venture firms the change is in who they share their largest rounds with. The investor present in the most $100M+ rounds is no longer a fund but a supplier to the companies being funded, and its stake in a round comes with the chips those companies need to spend the money on.