Nvidia to invest up to $1 billion in AI startup Poolside
Reuters
8 hours ago
Nvidia will invest up to $1 billion in AI company Poolside, in a deal that would quadruple the startup's valuation, Bloomberg News reported on Thursday, citing people familiar with the matter.
Poolside is in discussions to raise $2 billion at a pre-money $12 billion valuation, Bloomberg reported, adding that Nvidia's investment in the round would start at $500 million, with the potential to reach $1 billion if the startup meets its fundraising targets.
Poolside, which offers AI-powered coding assistants, has already secured more than $1 billion in commitments for the latest funding round, including roughly $700 million from existing investors, according to the report.
Poolside and Nvidia did not immediately respond to Reuters' requests for comment.
Views 104
This article does not constitute an individual investment proposal, nor does it take into account the specific investment objectives, financial position or needs of individual users. Before making any investment decision, investors should consider the risk factors associated with the investment product according to their own circumstances and consult professional investment advisers as necessary.