Nvidia and TCV extend Higgsfield's Series B as the AI video startup reports $1 billion in annualized revenue

Higgsfield, the AI video and image platform that marketers have been adopting faster than almost any tool in the category, has added Nvidia and TCV to its cap table. The company announced on October 23 that the two firms invested in an extension of its Series B, Bloomberg reported. Neither the size of the new money nor the valuation was disclosed.

The extension sits on top of a round that was already large. In August the company raised $400 million at a $5.4 billion valuation in a Series B led by DST Global, with participation from Goldman Sachs Alternatives, Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Intel Capital and others, according to Unite.AI's account of that round. That valuation was more than four times the $1.3 billion mark the company carried after its Series A. Several of the August investors, including Goldman Sachs Alternatives, Tribe Capital, AI Capital Partners, Smash Capital, GFT Ventures and Valor Capital, took part again in the extension, per the company's announcement.

Growth metrics and user base

The numbers the company attached to the news explain the investor interest, with the caveat that they are Higgsfield's own figures and have not been independently audited. It reports more than 40 million users across 238 countries and territories, with the United States as its largest market and Europe its largest region. It says annualized revenue crossed $1 billion in September, eighteen months after launch, up from the $700 million run rate reported at the time of the August round. Enterprise is described as the fastest-growing segment, up more than 100% month over month, with revenue under contract from business customers up tenfold since June. The platform processes 12 trillion tokens and 150 million generations a month, the company says.

Product and leadership

Co-founder and CEO Alex Mashrabov framed the demand in terms any marketing lead will recognize: brands, studios and creators need more visual content than traditional production can supply. He previously co-founded AI Factory, the computer vision company behind Snapchat's Cameos and face filters, which Snap bought in 2019. His co-founders are Yerzat Dulat, the chief technology officer, and Mahi de Silva.

The product is a production layer on top of generative models rather than a model company. Higgsfield packages workflow tooling, cinematic controls and automated production around AI video, image and audio generation, and sells it to marketing and advertising teams, entertainment companies and independent creators. Its headline capability for agencies is turning a single campaign concept into as many as 100 ad variants for different markets and platforms. The company says it served 390 Fortune 500 companies as of August.

Partnership with Nvidia

Nvidia's involvement is as much about infrastructure as equity. Higgsfield says it has scaled on Nvidia GPUs from the L40 and A40 generation through Hopper and Blackwell and is expanding to Vera Rubin, and that it runs custom inference workloads on Nvidia Dynamo. Rev Lebaredian, Nvidia's vice president of physical AI simulation, said in the announcement that the application layer is where AI tokens become useful. For TCV, founding general partner Jay Hoag placed the company alongside the firm's earlier bets on Netflix, Spotify, Facebook, ByteDance and Electronic Arts.

Kazakhstan roots and market implications

There is a geographic story too. Higgsfield is headquartered in San Francisco but traces its roots to Astana Hub in Kazakhstan, and calls itself the country's first AI unicorn. The announcement landed during Nvidia chief executive Jensen Huang's first visit to the country for its national AI Month, where Unite.AI reported he was photographed with Zhaslan Madiyev, Kazakhstan's deputy prime minister and minister of AI and digital development, and with Dulat.

The company's own framing of the market leans on figures from WPP Media, which forecasts $1.3 trillion in global advertising revenue this year with AI as a primary driver, and the IAB, which expects U.S. digital video ad spending to pass $80 billion in 2026 and reports that nearly two in three buyers now use generative AI for video creative, up from about half in 2025.

The funding round is a signal that the volume is arriving. The money will go to product development, global infrastructure, hiring and go-to-market expansion, the company said. What it did not say, and what Bloomberg's report did not include, is the one number that would settle the valuation question: how much Nvidia and TCV put in.