Nvidia is discussing a deeper tie-up with Reflection AI, an open-weight artificial intelligence startup, with options ranging from a larger equity investment to a full acquisition, the Financial Times reported.
One structure under consideration is an "acqui-hire", where Nvidia would hire Reflection's staff and license its technology rather than buy the company outright, a route that could avoid a lengthy regulatory review.
Talks are at an early stage and could take several forms, with no certainty they result in a deal, the report revealed.
Reflection AI, founded in 2024 by former Google DeepMind researchers Misha Laskin and Ioannis Antonoglou, builds open-weight models aimed at coding and AI agent tasks, positioned as a Western alternative to Chinese open models such as DeepSeek.
The company raised $2 billion last October at an $8 billion valuation, with Nvidia contributing $800 million, and by April this year was raising fresh capital at a $25 billion valuation, roughly three times that level six months earlier.
It has since struck large compute deals, including more than $1 billion in capacity from Nebius through 2029 and an arrangement to use SpaceX's Colossus 2 data centre.
Nvidia's own disclosure of the talks comes via Bloomberg, which reported the discussions could also involve Nvidia simply offering Reflection additional computing power rather than fresh capital.
