Nvidia's Jensen Huang announces $2 billion in new European AI investments

Nvidia CEO Jensen Huang announced Tuesday that the chipmaker plans to unveil $2 billion in new European AI deals over the next week, adding to $8 billion already deployed across the continent in the past year. Huang made the announcement in Paris, the first stop on a tour also including London and Berlin, and revealed new funding for four French startups: Doctolib, Genesis AI, Pigment, and Entalpic. He urged Europe to "get in the race" and promoted open-source AI models as key to closing the gap with US developers. The investments follow Huang's forecast that Nvidia will sell twice as many chips next year, driven by global AI demand. One backed startup, Doctolib, saw its valuation drop to €3.6 billion in a secondary sale, down from €5.8 billion in 2022.