Nvidia is reportedly in talks to acquire Reflection AI, the open-weight model developer it already backs. The Financial Times says the talks are early and could fall apart, while Crypto Briefing notes the report has not been independently substantiated.
Nvidia is in talks to acquire or deepen its investment in Reflection AI, according to the Financial Times, which cites people with direct knowledge of the matter. Crypto Briefing, however, says the chipmaker has not confirmed any such discussions and that no acquisition talks have been independently substantiated.
Reflection and Nvidia declined to comment, the FT reports.
A deal could take several shapes
The FT's sources say talks are at an early stage and a deal could take a number of forms, including an acqui-hire in which Nvidia hires staff and licenses technology. Such a structure would avoid the drawn-out regulatory review that comes with a full acquisition. Nvidia may also choose a further equity investment or a deal to supply Reflection with more chips and computing power.
Those people also said a deal could be reached in the coming weeks, although they cautioned that discussions could fall apart.
Nvidia already has a stake
Nvidia already has approximately $800 million riding on Reflection, per Crypto Briefing. The two companies also work together on GPU supply and through the NVIDIA Nemotron Coalition, Nvidia's initiative around open models.
Reflection's latest funding round set a pre-money valuation of $25 billion, and the FT says deal terms under discussion could not be established. Reflection builds open-weight models, which companies and governments can download and run on their own hardware.
Why the deal matters for Nvidia
Crypto Briefing says owning Reflection would give Nvidia a flagship Western open-weight lab. It adds that a purchase could also make Nvidia a competitor to some of its own customers, since it sells chips to many AI labs.
The FT adds that Reflection is a developer of open-weight models that the Trump administration hopes will rival cheap Chinese alternatives such as DeepSeek.
Sources: Crypto Briefing, Financial Times
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