Nvidia’s European spending spree is about much more than Europe | Fortune

Nvidia’s European spending spree is about much more than Europe | Fortune

By Beatrice Nolan
Publication Date: 2026-10-15 17:37:00

Welcome to Eye on AI. Beatrice Nolan here. In today’s issue:

This week, Nvidia CEO Jensen Huang was in London as part of a European tour. Jeremy Kahn and I caught up with him to discuss AI safety, Nvidia’s bet on open source, AI regulation, his thoughts on AI doomers, and how he makes his tea. Spoiler: He’s not making the tea correctly.

The trip is part of a broader European charm offensive for Nvidia, and one that comes with a hefty checkbook. Before London, Huang began his European Grand Tour in Paris, where he met Emmanuel Macron, and Huang said Nvidia would unveil another $2 billion in European AI deals within a week. That’s on top of the roughly $8 billion the company says it has put into the continent over the past year.

In London, Huang announced Nvidia was taking minority stakes in five U.K. startups, alongside new deployments with local organizations—while also doing an excellent Oprah Winfrey impression.

“I am giving you money! And I am giving you money! And I am giving you money,” Huang shouted from a stage in an old converted church to a crowd of tech executives, venture capitalists, Nvidia employees, and British politicians.

At one point during the speech, Huang spotted Josh Payne, CEO of Nscale, a U.K.-based neocloud backed by Nvidia, in the crowd and took the time to tell him that he and his company were a “zero” before he came along, invested in them, and helped them recruit their board. Nscale is now about to go…