Jensen Huang stated that Nvidia will reveal $2 billion in additional AI investments in Europe within a week, in addition to the $8 billion invested in the continent over the last year — raising its overall dedication to the region's tech ecosystem to almost $10 billion.
During a speech in Paris, which marks the initial stop of a tour that includes London and Berlin, the CEO of Nvidia identified four French startups that are receiving new funding: Doctolib, Genesis AI, Pigment, and Entalpic.
The selections cover diverse areas of AI: Genesis AI develops versatile robots utilizing foundation models, data-gathering systems, and simulation frameworks; Pigment creates enterprise planning tools for forecasting and scenario analysis; and Entalpic speeds up material discovery at the atomic level, concentrating on semiconductor and electronics production. All three are based in Paris and are significantly earlier in their development than Doctolib.
The most prominent of the four is the healthcare platform: Nvidia has consented to acquire a minority share, with the size and value unspecified, and Doctolib notes that the chipmaker's support will assist in developing AI tools. Established in 2013, Doctolib manages appointment scheduling and administrative tasks for physicians and has become a widely used resource for patients in France, Germany, and Italy — one of France's most recognized startups.
The timing is significant: Doctolib is the sole name on the list whose valuation has already changed. In April, a secondary sale where employees and initial investors offloaded about €300 million in shares valued the firm at €3.6 billion — a 38% reduction from the €5.8 billion valuation following its 2022 funding round.
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Huang's argument is based on sovereignty: he contends that open-source models are more cost-effective to operate, simpler to tailor to local languages, and the sole viable approach for the continent to bridge the AI divide with the US. "Europe must enter the competition," he stated.
Mistral AI serves as the example Nvidia highlights — it trained its Large 4 model using 4,000 Grace Blackwell GPUs located in European data centres and plans to release the weights on 27 October. The proposal also aligns with an active EU policy: the AI Gigafactories tender in Brussels, which has been open since July, is providing €10 billion in public support for as many as seven facilities, and Nvidia has already committed to supplying hardware through letters of intent.
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The totals are relatively small compared to Nvidia, valued at nearly $5.7 trillion this month compared to approximately $700 billion in July for ASML, the most valuable publicly traded company in Europe.
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However, the European initiative is part of a larger trend: Nvidia's ownership in firms purchasing its chips climbed to $99 billion by July, rising from roughly $7 billion a year prior, and reports in September indicated that the company was considering up to $10 billion as a lead investor in Anthropic's IPO — exceeding the complete €3 billion funding round Mistral AI secured at a valuation exceeding €21 billion, which is the highest any European tech firm has attained.