Nvidia’s
venture arm, NVentures, has invested in Swedish AI legal tech Legora at a $5.6 billion valuation, as the chip giant continues to ramp up startup funding across the globe.
Legora on Thursday exclusively told CNBC that Nvidia had backed it as part of a $50 million extension of its Series D, which brought the total amount to $600 million following a first close in March. The extension also saw Atlassian, Adams Street Partners and Insight participate.
Investors have been piling into promising young AI companies as they bet big on the commercial potential of tech to reshape entire industries and bring big efficiency gains.
Nvidia has been ramping up startup investments in recent years, as its looked to deepen its ties to some of the world’s most promising companies, offering technical expertise and supply chain assistance, alongside hard cash.
