TL;DR
On October 23, 2026, AI video and image platform Higgsfield announced new investment from NVIDIA and TCV, extending its August Series B round. The company says registered users have passed 40 million and it processes 12 trillion tokens per month; the size of the extension and the updated valuation were not disclosed.
Background: Capital Momentum in AI Video
AI video generation drew heavy funding in 2026. As cited by TipRanks on October 23, 2026, China-based Kling AI raised $2.8 billion at a $15 billion valuation, while U.S. rival Runway AI raised $315 million at a $5.3 billion valuation. Higgsfield followed a sustained fundraising path: an $80 million extension in January at a $1.3 billion valuation, then a $400 million Series B in August at a $5.4 billion valuation.
The Deal: NVIDIA and TCV Join
On October 23, 2026, Higgsfield announced from San Francisco and Astana, Kazakhstan that its Series B had been extended with new investment from TCV and NVIDIA. The company said proceeds will fund global infrastructure and hiring, but did not disclose the amount of the extension or an updated valuation. NVIDIA CEO Jensen Huang confirmed the investment the same day at a fireside chat at the alem.ai International AI Center in Astana. TCV previously backed Netflix, Spotify, and ByteDance.
Fundamentals: Users, Revenue, and Compute Scale
Higgsfield says its registered user base has grown past 40 million, up from 30 million at the August round, and that it processes about 12 trillion tokens supporting 150 million generations per month. Co-founder Alex Mashrabov has said annualized revenue reached $700 million in August (from $200 million in January) and that the platform is on track to pass $1 billion. The company combines its own AI engine with about 35 external video models for storyboards, characters, audio, and final edits, and says its visual production serves 390 of the Fortune 500.
NVIDIA's Perspective: Infrastructure and the Token Economy
Higgsfield states that its infrastructure runs entirely on NVIDIA platforms, scaling from L40 and A40 GPUs through Hopper and Blackwell generations and now expanding to Vera Rubin, using NVIDIA Dynamo to deploy and scale custom inference workloads. The company open-sourced its 15-minute animated short film Kok Boru, powered by Blackwell Ultra infrastructure, and turned it into a free course that it says over 150,000 creators have completed. NVIDIA VP Rev Lebaredian said in the announcement that generative video yields an estimated $30-$150 per million equivalent tokens versus $0.15-$0.60 for text.
Founding Background and Team Structure
Higgsfield was founded in 2023 by Alex Mashrabov and Yerzat Dulat. Mashrabov, a former Snap executive, previously co-founded AI Factory, the computer vision company behind Snapchat's Cameos and face filters that Snap acquired in 2019. The company is headquartered in San Francisco and keeps most of its engineering team in Kazakhstan; the funding news came during Kazakhstan's national AI Month activities.
Sources
- Higgsfield official announcement (PR Newswire, October 23, 2026): https://kessler-prod.reta52d8.eas.morningstar.com/news/pr-newswire/20261023sf79761/higgsfield-extends-series-b-with-new-investment-from-tcv-and-nvidia
- Sina Finance citing Cailianshe (October 23, 2026): https://cj.sina.com.cn/articles/view/2868676035/aafc85c302001ywo2?froms=ttmp
- TipRanks (October 23, 2026): https://www.tipranks.com/news/nvidia-and-tcv-back-ai-video-startup-higgsfield-as-users-top-40-million
- AI Chat Daily (October 23, 2026): https://www.aichatdaily.com/ai-business/nvidia-invests-ai-video-startup-higgsfield-jensen-huang
- aifuturefront (October 23, 2026): https://aifuturefront.com/higgsfield-secures-fresh-series-b-capital-from-tcv-and-nvidia/