Nvidia's processors prepared the business to benefit from the most recent AI boom. The GPU manufacturer, however, is focusing on other domains where AI may find use. The California-based chip manufacturer Nvidia exceeded forecasts and flaunted a market valuation of more than $2 trillion by the end of February, making it the most recent tech company to enjoy a spectacular year to date.

Nvidia now ranks among the top three firms in terms of market capitalization, behind Apple and Microsoft. There's a rather straightforward formula that explains the company's recent success.

Owing to AI advancements, industries outside of technology, like banking and healthcare, are scrambling to figure out how to use the technology. In order to achieve this, the processors that power the AI technology are called graphics processing units, or GPUs. And Nvidia is the real deal.

However, attention isn't just focused on chips. In an attempt to capitalize on its present lead in the latest AI frenzy, Nvidia is looking elsewhere. The business has been investing more money in businesses using AI to transform a variety of sectors by growing its venture capital footprint.

According to an analysis provided to Business Insider by Dealogic, a data business that provides services to financial organizations, Nvidia has invested in around thirty-six startups in the last year. That's more than three times the amount of investments Nvidia had in 2022, according to The Wall Street Journal, which broke the story on the company's investment strategy first.