Nvidia and venture firm TCV invested in an extension of generative-video startup Higgsfield’s Series B, Variety reported Friday, citing the company¹. Higgsfield declined to disclose the amounts, Variety said¹.

The San Francisco company had opened the Series B in August with investors including DST Global, Goldman Sachs Alternatives, Tribe Capital, AI Capital Partners, Smash Capital, GFT Ventures and Valor Capital, raising $400 million at a $5.4 billion valuation, according to Variety¹. Higgsfield said it reached $1 billion in annualized revenue in September¹.

Variety said the new investments were marked as Nvidia chief executive Jensen Huang visited Kazakhstan on Friday, where much of Higgsfield’s founding team is from¹. Higgsfield, founded in 2023, said it processes 12 trillion tokens a month across 150 million generations and that the Nvidia stake is Nvidia’s first in the company¹. Variety noted Nvidia has previously invested in other entertainment-focused AI startups, including Runway¹.

Chief executive Alex Mashrabov said in a statement that “every brand, studio and creator now needs more visual content than traditional production can supply”¹. TCV general partner Neil Tolaney and Nvidia vice president of physical AI simulation Rev Lebaredian also issued statements backing the collaboration, Variety reported¹. Higgsfield has also produced its own AI-generated films, including “Hell Grind,” which Variety said premiered at Cannes’ Marché du Film in May¹.

What Nvidia and TCV paid, and whether the extension changed the August valuation, was not reported¹.

Sources

1. VarietyAI Giant Nvidia Invests in Entertainment Startup HiggsfieldOct 23, 11:18 AM

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