Everyone wants to be there, and if you’re not there, you inevitably end up hearing about it. And on Monday afternoon, Huang hit on agentic AI, the fast-approaching future of compute, offered a chip demand outlook, and emphasized the idea of “AI factories.” For startups and growing private companies, here are a few things to consider:
Talk to Nvidia’s agent. First, say hello to NemoClaw: The perennially leather-jacket-clad Huang unveiled NemoClaw, a new open source platform focused on agentic AI. The name is seemingly intentional, likely referencing the recent success of viral AI agent OpenClaw, while giving companies enterprise-grade privacy and security controls. “Every company in the world today needs to have an OpenClaw strategy, an agentic system strategy,” Huang told the audience. “This is the new computer.”
Physical AI has arrived. Huang emphasized that physical AI, especially robotics, is Nvidia’s next major market, perhaps worth one trillion or more. Many VCs would agree with Huang’s assessment, as billions of venture dollars have flowed into AI-era robotics companies like industrial-focused Skild AI and humanoid builder Apptronik.
Nvidia wants to do it all.Fortune’s Sharon Goldman says it all comes down to how Nvidia sees its own future. She writes: “Nvidia made it clear at GTC that it is positioning itself not just as a chipmaker but as the provider of entire AI computing systems powering the new “inference” phase of AI. (Inference is about powering AI outputs, not just training, and it will require an enormous new round of infrastructure investment.) That ambition goes beyond Nvidia’s traditional “picks and shovels” role.”
Term Sheet Podcast… This week’s guest is someone I’ve been wanting to meet in person for some time: Winston Weinberg, Harvey CEO and cofounder. Harvey’s a legal AI leader, and the company’s 3.5 years old with an $11 billion valuation. Winston and I talked about Harvey’s rise, AI’s “partner and compete” paradigm, and his formula for finding focus. Watch the episode here.
Joey Abrams curated the deals section of today’s newsletter.Subscribe here.
VENTURE CAPITAL
– RoboForce, a Milpitas, Calif.-based AI robotics company, raised $52 million in funding. YZiLabs led the round and was joined by others.
– StandardTemplateLabs, a New York City-based AI-powered service management platform, raised $49 million in seed funding. ICONIQ and CRV led the round.
– Native, a Seattle, Wash.-based cloud security platform, raised $42 million in funding. BallisticVentures led the round and was joined by existing investors GeneralCatalyst, YLVentures, and MerlinVentures.
– MestagTherapeutics, a Cambridge, U.K.-based biotech company looking to develop treatments for patients with cancer and inflammatory diseases, raised $40 million in funding from SVHealthInvestors, Johnson & Johnson, Forbion, GV, and NorthpondVentures.
– Turquoise, a San Diego, Calif.-based health care pricing and payment platform, raised $40 million in Series C funding. OakHC/FT led the round and was joined by existing investors AndreessenHorowitz, AdamsStreetPartners, and Yosemite.
– BusRight, a New York City-based student transportation technology company, raised $30 million in funding. VolitionCapital led the round.
– HanoverPark, a New York City-based AI-powered fund administrator, raised $27 million in Series A funding. EmergenceCapital, Lux, and Susa led the round.
– KnoxSystems, an Austin, Texas-based federal AI-managed cloud provider, raised $25 million in funding. B Capital led the round and was joined by M12, OktaVentures, MongoDBVentures, HearstVentures, and others.
– Tracebit, a London, U.K.-based cybersecurity company, raised $20 million in Series A funding. FirstMark led the round and was joined by Accel and others.
– ConduitHealth, a New York City-based platform that connects Medicare and Medicaid patients with medical supplies and services, raised $17 million in Series A funding. DriveCapital led the round and was joined by existing investors XYZVentures, TwelveBelow, EniacVentures, and others.
– Multiply, a San Francisco-based developer of self-learning advertisement technology, raised $9.5 million in funding. Mayfield led the round and was joined by SorensonCapital and others.
– Rubi, a San Francisco-based developer of technology designed to turn carbon emissions into textiles, raised $7.5 million in funding. APVentures and FHOneInvestments led the round and were joined by TalisCapital, CMPCVentures, H&M Group, UnderstoreyVentures, and angel investors.
– Tenkara, a San Francisco-based developer of operations agents for manufacturers, raised $7 million in funding. TrueVentures led the round and was joined by HF0, WndrCo, ArticulateCapital, NightCapital, and others.
– MaveHealth, a San Francisco-based neurotech company, raised $2.1 million in seed funding. BlumeVentures led the round and was joined by others.
PRIVATE EQUITY
– Icelanderic, a portfolio company of NewHeritageCapital, acquired SOMALABS, a Middlesex, N.J.-based supplement manufacturer. Financial terms were not disclosed.
– VisuSewer, a portfolio company of FortPointCapital, acquired UnitedSurvey, an Oakwood Village, Ohio-based swerve inspection, cleaning, and rehabilitation services provider. Financial terms were not disclosed.
FUNDS + FUNDS OF FUNDS
– SandsCapital, an Arlington, Va.-based growth equity firm, raised $1.1 billion for its third Global Innovation Fund focused on late-stage tech companies.
PEOPLE
– NorthleafCapitalPartners, a Toronto, Ontario-based private equity firm, appointed John Rikhtegar as Vice President, Private Equity & Venture Capital. Previously, he was with The Royal Bank of Canada.
Fortune AIQ: One Strategy, Real AI Results
AI transformation can be overwhelming—there are countless tools, strategies, and approaches competing for attention, often without any proven results. But for some companies, AI’s biggest impact can be attributed to a single tool, strategy, or approach. Explore all of Fortune AIQ, and read the latest playbook below:
