Nvidia Backer Mark Stevens Funds $175M Medical School With AI Focus

Mark Stevens, Nvidia’s first investor who reaped billions from the chip maker’s rise, is now directing his passion closer to home. He and his wife, Mary, are donating $175 million to fund the state’s first new medical school in more than a century, to be operated jointly between Santa Clara University and Sutter Health.

“The unique partnership of California’s oldest university, Northern California’s largest and most respected integrated health care delivery network, and our investment will deliver the next generation of doctors and nurses,” Stevens said in a statement. The newly launched school will also be “at the forefront of the integration of artificial intelligence technology and health delivery.”

The donation is the largest ever made to Santa Clara, a 175-year-old Silicon Valley university, or Sutter Health, a nonprofit health care system serving California. In honor of the gift, the center will be named the Mark & ​​Mary Stevens School of Medicine. The school will be housed in an 82,000-square-foot facility and plans to welcome its first class following a multi-year accreditation process that is now underway.

Stevens, an Nvidia board member, first invested in the company in the early 1990s while at Sequoia Capital, which he joined after roles at Intel and Hughes Aircraft. He now invests through his family office, S-Cubed Capital, and is involved in the NBA’s Golden State Warriors. Stevens has an estimated net worth of $12.2 billion.

Mary Stevens has a long association with Santa Clara. Graduating in 1984, she played on the university’s women’s soccer team and has served on the board of trustees for more than a decade. The partnership with Sutter Health represents “a perfect match between two organizations that share a deep respect for each other, a commitment to educating compassionate physicians, and a commitment to excellence,” he said in a statement.

Santa Clara students include Gov. Gavin Newsom of California, who described the new school as an example of how the state is “stepping up” at a time when “we need more doctors in many communities.”

Nvidia’s soaring market value is fueling philanthropy

Nvidia’s price hike has spurred a wave of generosity among top shareholders. Stevens is one of the company’s three largest shareholders, along with board member Tench Coxe, who is worth an estimated $8.6 billion, and CEO Jensen Huang, who is worth an estimated $191.3 billion.

All three have directed portions of their wealth to charitable causes. Earlier this year, Coxe and his wife, Simone, donated $100 million to the University of Texas Medical Center in Austin. Huang has also made a series of gifts focused on education, including a $22.5 million donation to the California College of the Arts in 2025.

Founded in 1993, Nvidia has become the most important publicly traded company amid the high demand for AI chips, reaching a market capitalization of $5.3 trillion. Since going public in 1999, its shares have risen more than 550,000 percent, creating a new class of super-rich tech executives.

Other Nvidia leaders are also involved in philanthropic efforts. Debora Shoquist, the company’s senior vice president, donated $25 million to Santa Clara in April to launch an AI center. That same month, Roger Bringmann, Nvidia’s vice president of software compilers, donated $50 million to Austin Christian University in Texas.

At Stevenses, the donation adds to a growing portfolio of quality gifts. It comes just weeks after they pledged $200 million to the University of Southern California to expand AI research and education, where Mark Stevens earned multiple degrees.

The couple have long supported their alma maters. In addition to multi-million dollar donations to USC, they have donated nearly $40 million to Santa Clara sports facilities and programs. Outside of education, their philanthropy includes support for the Palo Alto Medical Foundation, the US Olympic and Paralympic Foundation, and Oasis, a San Francisco drag cabaret venue. They have signed the Giving Pledge since 2013.