It's circular financing
Many argue Nvidia investing in startups that then spend the money on Nvidia GPUs is circular financing or manufactured demand, likening it to dotcom-era vendor loops.
It's just ecosystem influence
Others say the sums are a rounding error next to Nvidia's revenue and the point is to make sure the next OpenAI runs on Nvidia's stack, like Intel Capital or Salesforce Ventures.
AI hype is crowding out funding
Some worry big VC rounds are too concentrated on AI, leaving other industries such as housing underfunded and pushing every startup to bolt AI onto its pitch.