Nvidia's Record Startup Investment Pace Faces Scrutiny Post-Huang Departure

Nvidia, through its corporate venture arm NVentures, reached an unprecedented level of startup investment activity in 2026, participating in 121 deals. This figure, according to Crunchbase data, marks its most prolific year as a private-company investor, surpassing its record-setting pace from last year and 54 in the year prior. The chipmaker emerged as the most active corporate investor and ranked among the top 20 most active investors overall this year.

This record pace, however, is now under scrutiny following the sudden departure of co-founder Jensen Huang this week. Huang's exit, prompted by reports of extramarital affairs, leaves an open question regarding the continuity of Nvidia's expansive investment playbook. Investors and founders will be closely watching for signals from new leadership, particularly with earnings scheduled for November 17.

Nvidia's investment footprint in 2026 was broad, spanning AI model developers, data center operators, robotics, and healthcare companies. Key deals included the $122 billion Series G for OpenAI in March and the $30 billion Series G for Anthropic in February. Other significant investments included a $3.9 billion Series F for AI infrastructure provider Crusoe and a roughly $3.5 billion Series D for model developer Mistral AI, both in September.

Beyond the largest AI model developers, NVentures made substantial bets across various sectors. These included a $1.4 billion Series C for robot intelligence developer Skild AI and a $750 million Series C for autonomous driving startup Waabi, both in January. The firm also backed Bedrock Robotics in two rounds and invested $150 million in medical imaging AI company Aidoc.

While Nvidia's individual check sizes are not disclosed, the company or its venture arm typically participate alongside other investors, leading or co-leading approximately one in five deals, Crunchbase data indicates. NVentures emphasizes that its value proposition extends beyond capital, offering portfolio companies access to technical teams, technology integrations, and assistance with customer reach.

The shift in leadership to interim CEO Collette Kress, previously Nvidia's CFO, introduces a potential change in investment philosophy. Reuters reported, citing two sources familiar with the matter, that Kress had previously pushed back on Huang's increasingly large AI investments. This suggests a possible re-evaluation of the scale and scope of future venture capital deployments, even as Nvidia's board has assured continued operations and product roadmaps.

Despite a tumble in share price following Huang's departure, Nvidia's market capitalization remains near $4 trillion, highlighting the immense financial capacity supporting its venture activities. The upcoming earnings call will be crucial for the market to gauge how the company's investment strategy, which has been a significant force in the venture landscape, will evolve under its new leadership.