Higgsfield says it hit $1bn in annualized revenue; NVIDIA is now an investor

NVIDIA is best known for the chips that AI models run on. On 23 October 2026 it was named as a new investor in a company that turns that computing power into finished commercial work: Higgsfield, a San Francisco-based platform that brands, agencies, studios and professional creators use to make images and video with AI. TCV joined it in an extension of the Series B round that DST Global led in August. Neither the size of the extension nor any new valuation was disclosed.

Higgsfield's August release said the $400 million Series B valued the company at $5.4 billion, more than four times the $1.3 billion valuation it reached in its Series A round and the extension to it. In the same month, the company said, its annualized revenue reached $700 million. By its account that figure passed $1 billion in September, 18 months after launch, while users rose from more than 30 million in August to more than 40 million by 23 October 2026.

A run rate built on four weeks turns the latest month into a yearly figure, so it shows the current pace, not what the business took in over the past 12 months, and with growth of about 20 times in a year, by the company's account, the two can be far apart. It also says nothing on its own about how long customers keep paying. Higgsfield is privately held and has not published financial statements, so its revenue figures are its own and cannot be checked against audited accounts.

The release says Higgsfield serves three content-heavy markets: marketing and advertising, entertainment, and the creator economy. Brands and agencies, Fortune 500 companies among them, use the platform to turn one campaign idea into as many as 100 adverts for different markets and platforms, according to the release. The company says it powered campaigns for 390 of the Fortune 500 as of September 2026. It describes enterprise as the part of its business growing fastest, at more than 100% a month, and says revenue under contract from business customers is ten times its June level. A post on X on 24 October put enterprise contracts up 71% since the August round; it did not reconcile that figure with the monthly rate.

How customers pay is shifting too, according to Higgsfield's 29 September blog. Subscriptions once made up more than 90% of revenue; their share is now just over 60%, as on-demand usage has expanded. The company links that to customers doing more than their monthly plan covers: testing several ideas, producing local versions and revising assets. In late September it reported nearly 1 million paying subscribers. The US is its largest single market and Europe its largest region by usage, the October release says; the blog named South Korea, Germany, India, the United Kingdom, Brazil and France, in that order, as the next-largest markets after the US.

Higgsfield says it has run on NVIDIA hardware at every stage of its growth, starting with L40 and A40 graphics processors, moving through the Hopper and Blackwell generations and now expanding to Vera Rubin, which NVIDIA's quarterly report for the period ended 26 July 2026 describes as its next-generation data-centre architecture. The company also uses NVIDIA's Dynamo software to run and scale its own inference workloads on the GPUs it operates. The release does not say how much Higgsfield spends on that hardware, whether it buys it directly, or how much NVIDIA invested.

The release gives no other reason for the investment. NVIDIA's quarterly report for the quarter ended 26 July 2026 sets out its general approach: it says it has invested, and may keep investing, in its ecosystem "to enhance our growth opportunities, cultivate our ecosystem, and strengthen our competitive position". It put its equity investments at $99 billion, with a further $25 billion of equity investment commitments, as of 26 July 2026, and said its non-marketable equity securities are mainly in privately held companies. Those totals predate the Higgsfield deal, and the filing does not mention Higgsfield. "We expect to continue investing in our ecosystem," it says.

TCV, the other new investor, lists Higgsfield on its portfolio page as an AI-native video and media platform based in San Francisco and founded in 2023; Higgsfield's own site dates its launch to 2025. In the release, Neil Tolaney, General Partner at TCV, said the team's "product velocity and market adoption" were at a pace the firm has "rarely seen". Jay Hoag, the firm's founding general partner, placed the deal in a longer record of media investments.

Higgsfield is headquartered in San Francisco. Its co-founders are Alex Mashrabov, its chief executive; Yerzat Dulat, a Kazakhstani AI engineer who is chief technology officer; and Mahi De Silva. Before Higgsfield, Mashrabov co-founded AI Factory, whose computer-vision technology powered Snapchat's Cameos and face filters; Snap acquired it in 2019. Higgsfield's blog describes a large engineering hub in Almaty, and the release links the company to Kazakhstan through the Astana Hub and calls it the country's first AI unicorn. The October announcement coincided with Jensen Huang's first visit to Kazakhstan, for its national AI Month in Astana, according to the release.