Semiconductor giant Nvidia (NVDA) has joined the India Deep Tech Alliance (IDTA), a group of private equity and venture capital investors, as a founding member. The U.S. chip company will support deep tech startups in one of the fastest-growing artificial intelligence (AI) markets and the world’s third-largest startup ecosystem.
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Deep tech startups are emerging companies that are generally based on breakthroughs in areas like AI, semiconductors, space, biotech, robotics, and energy.
Aside from Nvidia, other new members of IDTA include Qualcomm Ventures (QCOM), Activate AI, InfoEdge Ventures, Chirate Ventures, Singularity Holdings VC, YourNest Venture Capital, and Kalaari Capital. Moreover, IDTA secured over $850 million in new capital commitments. The new capital builds on the initial $1 billion in capital commitments announced in September 2025 at SEMICON India.
Nvidia, U.S. AI Companies Seek Growth in India
As a founding member and strategic advisor of the IDTA, Nvidia will provide training, technical expertise, and policy input to Indian deep tech startups through its Nvidia Deep Learning Institute. The U.S. chip company will offer guidance to Indian startups on AI systems, developer enablement, and other areas. Currently, Nvidia has not provided any details on financial investment or timelines.
Indian startups are also receiving support from the government, which has committed more than 100 billion rupees ($1.1 billion) to its AI Mission. Moreover, the Indian government has announced a separate 1 trillion rupees ($11.2 billion) Research, Development, and Innovation Scheme Fund to support deep tech companies.
India is considered one of the fastest-growing AI markets. In fact, ChatGPT maker OpenAI (PC:OPAIQ) views the country as its second-largest user base. Nvidia’s U.S. tech rivals are also seeking growth in India. For instance, Alphabet-owned (GOOGL) Google recently committed $15 billion to build an AI hub in Visakhapatnam, Andhra Pradesh.
AI companies are keen to expand in India, given the country’s high smartphone and internet penetration rates. Recently, CNBC reported that Google and Perplexity AI have partnered with local telecom companies Reliance Jio and Bharti Airtel (IN:BHARTIARTL), respectively, to offer their AI services free for 12 to 18 months. Also, OpenAI has made its ChatGPT Go plan free in India for one year.
Is NVDA Stock a Strong Buy?
Given the solid demand for AI GPUs (graphics processing units), Wall Street has a Strong Buy consensus rating on NVDA stock based on 37 Buys, one Hold, and one Sell recommendation. The average NVDA stock price target of $237.35 indicates 19.5% upside potential from current levels.
