Analysis
Higgsfield, the AI video and image platform for brands, agencies, and creators, said it crossed $1 billion in annualized revenue run rate in September — 18 months after launch — and is extending its Series B with new money from TCV and Nvidia. The company's announcement didn't disclose the extension's size or a new valuation.
Pulse previously covered Higgsfield's original Series B: a $400 million round at a $5.4 billion valuation, led by DST Global in August with Goldman Sachs Alternatives, Tribe Capital, AI Capital Partners, Smash Capital, GFT Ventures, and Valor Capital participating. What's new here is who's joining the cap table — TCV's Jay Hoag and Neil Tolaney, and Nvidia's Rev Lebaredian — not a fresh markup.
“Founder Alex Mashrabov previously built AI Factory, which Snap acquired in 2019, and co-founded Higgsfield with Yerzat Dulat and Mahi De Silva.”
Founder Alex Mashrabov previously built AI Factory, which Snap acquired in 2019, and co-founded Higgsfield with Yerzat Dulat and Mahi De Silva. The platform now reports more than 40 million users across 238 countries, generating up to 100 ad variants per campaign and 150 million generations a month — real usage volume in a category (Runway, Pika, Luma AI, and the model labs' own video tools like Sora and Veo) that's mostly still competing on demo quality rather than disclosed revenue.
Nvidia's involvement matters beyond the dollar figure. Lebaredian, who leads physical AI simulation at Nvidia, framed it as a continuation of "a long-running hardware and software collaboration" — meaning Nvidia is treating Higgsfield as an application-layer bet, not just a GPU customer. That's a different relationship than Nvidia's typical compute-credit deals with AI labs.
What the announcement leaves out matters too: an undisclosed extension amount and no new valuation make it impossible to tell whether this is a modest top-up or a meaningful dilution event, and a $1 billion annualized run rate is still a run rate, not audited revenue — it can swing quickly if ad-spend-driven customers pull back. Higgsfield's growth curve is genuinely fast, but the lack of hard numbers on the extension itself is the detail that didn't make the press release.