Mark Stevens, an early Nvidia investor who has reaped billions from the rise of the chip makernow he’s driving his philanthropy closer to home. He and his wife, Mary, are donating $175 million to fund the region’s first new medical school in more than a century, which will operate as a partnership between Santa Clara University and Sutter Health.
“The unique partnership of California’s oldest university, a large and respected integrated Northern California health care delivery network, and our investment will deliver the next generation of physicians and clinicians,” Stevens said in a statement. The newly opened school will also be “at the forefront of integrating artificial intelligence technology with healthcare delivery”.
The donation is the largest ever for Santa Clara, a 175-year-old Silicon Valley university, or Sutter Health, a nonprofit health care system serving California. In recognition of the gift, the institution will be named Mark & Mary Stevens School of Medicine. The school will be housed in an 82,000-square-foot facility and plans to welcome its inaugural class after a multi-year accreditation process is now underway.
Stevens, a member of Nvidia‘s board, first invested in the company in the early 1990s while at Sequoia Capitalwhich he joined after roles in Intel and Hughes Aircraft. He now invests through his family office, S-Cubed Capital, and owns a stake in the NBA’s Golden State Warriors. Stevens has one Estimated net worth is $12.2 billion.
Mary Stevens has long ties to Santa Clara. A 1984 graduate, she played on the university’s women’s soccer team and has served on its board of trustees for more than a decade. The partnership with Sutter Health represents “a perfect match between two organizations that share a deep mutual respect, a commitment to educating compassionate healers and a commitment to serving the greater good,” she said in a statement.
Santa Clara alumni also include Gov. Gavin Newsomwho described the new school as an example of how the state is “moving forward” at a time “when we need more doctors in more communities.”
Nvidia’s rising market value is fueling philanthropy
Nvidia’s rise in value has fueled a wave of philanthropy among its major shareholders. Stevens is one of the company’s three largest individual shareholders, along with the board member Tench Coxeworth about $8.6 billion, and CEO Jensen Huangwhose net worth is estimated at 191.3 billion dollars.
All three have directed a portion 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 did too a range of gifts focused on educationincluding one $22.5 million donation at California College of the Arts in 2025.
Founded in 1993, Nvidia has become the world’s most valuable publicly traded company amid growing 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 ultra-rich tech executives.
Other Nvidia executives have also contributed to philanthropic efforts. Deborah Shoquistthe company’s executive vice president of operations, donated $25 million to Santa Clara in April to launch an AI center. That same month, Roger Bringmannthe vice president of Nvidia software compilers, donated $50 million to Austin Christian University in Texas.
For the Stevenses, the donation adds to a growing portfolio of high-profile 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 has long supported their alma mater. In addition to multimillion-dollar contributions to USC, they have donated nearly $40 million to Santa Clara’s athletic facilities and programs. Beyond academia, their philanthropy includes support for the Palo Alto Medical Foundation, the US Olympic and Paralympic Foundation, and Oasis, a cabaret venue in San Francisco. They have been signatories to the Giving Pledge since 2013.
