Nvidia (NVDA) is in talks to invest $1B in artificial intelligence startup Poolside, Bloomberg reported.
Poolside, which works on foundation models for the government and defense industries, is in talks to raise $2B at a pre-money valuation of $12B, the news outlet added. Nvidia would provide $500M initially and then another $500M if it is able to meet its fundraising targets, the news outlet added, citing a person familiar with the matter.
Poolside has already received more than $1B in commitments for the new funding round, the person added. Poolside will use some of the new funding to buy Nvidia’s Blackwell GB300 GPUs, one of the people added. Nvidia has already invested in Poolside previously.
Nvidia and Poolside did not immediately respond to a request for comment from Seeking Alpha.
