Nvidia and TCV invest in AI video startup Higgsfield as Jensen Huang visits Kazakhstan

Higgsfield, the San Francisco AI video and image generator founded by former Snap executive Alex Mashrabov, extended its Series B with new money from Nvidia and TCV, Bloomberg reports. Neither the size of the extension nor a new valuation was disclosed; the August round raised $400 million at a $5.4 billion valuation. The company, which has most of its engineers in Kazakhstan, says it has more than 40 million users and crossed $1 billion in annualized revenue in September. The deal was announced during Nvidia CEO Jensen Huang's first visit to Astana, where he said, "You invest in people, not companies."