Nvidia-backed Reflection AI eyes $25 billion valuation, WSJ reports
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A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
March 25 (Reuters) - Nvidia-backed startup Reflection AI is in talks to raise $2.5 billion at a valuation of $25 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Here are some details:
* JPMorgan Chase is considering participating in the fundinground through its Security and Resiliency Initiative, the reportsaid. * The proposed $25 billion valuation for Reflection reflectsits pre-money valuation, before the $2.5 billion investment,according to the WSJ. * Reuters could not immediately verify the report. * Reflection did not immediately respond to Reuters' requestfor comment. * The proposed valuation for Reflection marks an increasefrom the more than $20 billion level the company had reportedlytargeted, according to a Financial Times report earlier thismonth.(Reporting by Ruchika Khanna in Bengaluru; Editing by Sherry Jacob-Phillips)
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